The Fidelity multi-asset team has adopted a defensive stance across its portfolios in anticipation of a recession in 2019, potentially fuelled by problems in Italy.
At a briefing last week, Fidelity's global economist Anna Stupnytska said she expected global growth to remain sluggish in 2019 driven by tightening financial conditions globally and a slowdown in China, posing a recession risk. Stupnytska's comments follow a bout of increased market volatility in recent weeks prompting debate over the potential end of the ten-year bull run - the longest in US history. The longest US bull market: What have been the sector winners and losers? "There are tighter financial conditions; the Federal Reserve is ahead of the cycle and is unwinding the bala...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
