US equities began 2019 with a welcome respite, reversing course from their downward spiral in December 2018.
Trade, inflation, slow growth and yield curve to blame
Headwinds expected into Q2
Rethink of asset allocation decisions needed
Market correction becoming more inevitable
Financial markets became scared at the end of last year that the US Federal Reserve's monetary tightening could precipitate the country's economy into recession.
Maintaining portfolio weightings
Bond investors spent most of last year transitioning towards a more fundamentally driven approach to selecting assets.
US stocks had a turbulent last quarter in 2018 and have been somewhat volatile since the start of this year.
Managed fund since 2017
US/China and Brexit behind selected calls
Credit fundamentals are stable
The most significant consideration for all investors in the US is the actions of its Federal Reserve.
At the start of 2019 there were three main reasons to be bearish.
Dovish Fed contributing to forecast
UK equities had a positive start to 2019. While this can be partly viewed as a rebound after 2018's difficult final quarter, what is likely to have been most significant is an extraordinary U-turn by the US Federal Reserve.
Could 'easily prove fatal'
Fund manager interview with the UK fixed income head
Fuelled by loose monetary policy, fixed income managers have had a tailwind for the past ten years.
Metal staged a comeback in Q4 2018
Change in tone since start of year
Geopolitical risk still an issue
The state of the current market