Volatility will continue to weigh on US markets

In the US, the consumer is king; spending is at its strongest in four-and-a half years, retail sales are up, jobs and productivity figures are steady and wage growth continues.

The Federal Reserve has seen fit to cut interest rates twice so far in 2019, leading to cheaper loans and an increase in mortgage refinancing, which has put more money in people's pockets.  However, the geopolitical unease, ongoing trade tensions, and a global slowdown have all contributed to a weaker economic tone.  Global pressures have contributed to below target inflation and an inverted Treasury yield curve, leading to fears of a recession. The manufacturing sector has been hit especially hard, both by the reverberations of slower Chinese growth and the direct impact of increa...