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.
The trend toward monetary tightening should continue and further unilateral sovereign actions promise more surprises
Fixed Income Outlook
A flattening yield curve, and signs of concern in the US mortgage market are amongst a range of considerations facing investors in 2019.
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.
While 2019 may initially provide more of the same for international currency markets, the potential for a significant shift should not be discounted.
There are short-term risks in China, but these are offset by long-term investment opportunities.