Global Market Outlook



Not Over Until It’s Over


In This Issue

Macroeconomic Outlook

Global growth slows, with trade wars the biggest risk

Trade policy is the single most important source of uncertainty and may act as a deterrent to both the capex wave already under way and to consumer spending.

November 30, 2018 · By Christopher Probyn and Simona Mocuta

Geopolitical Outlook

Geopolitics Drives Uncertainty and Downside Risk

The trend toward monetary tightening should continue and further unilateral sovereign actions promise more surprises

November 30, 2018 · By Elliot Hentov


Fixed Income Outlook

Time for Bond Investors to Position for Cycle End

A flattening yield curve, and signs of concern in the US mortgage market are amongst a range of considerations facing investors in 2019.

November 30, 2018 · By Matt Nest and Niall O’Leary

Equities Outlook

Navigate Late Cycle Volatility with Defensive Equities

US equities are likely to outperform those in Europe and emerging markets in 2019, as investors face increased volatility amid rising interest rates and trade uncertainty.

November 30, 2018 · By Gaurav Mallik


Currency Outlook

Use Short-Term Moves to Hedge Long-Term Currency Exposures

While 2019 may initially provide more of the same for international currency markets, the potential for a significant shift should not be discounted.

November 30, 2018 · By James Binny and Aaron Hurd


Investment Theme

All Eyes on China

There are short-term risks in China, but these are offset by long-term investment opportunities.

November 30, 2018 · By Laura Ostrander, George Bicher, Andrew Xiao, and Abhishek Kumar


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