Are stockmarkets in a bubble or a recession? Well, arguably it is both.
Value stocks may have enjoyed a welcome change in fortunes in recent weeks, but they have been swimming against the tide for years as investors have sought the perceived security of quality and low-volatility stocks.
What is risk? This is a question I constantly pose to myself when trying to assess how best to allocate capital within the fixed income space.
The world is getting ready for the immense impact of 5G technology.
Healthcare stocks served as powerful painkillers during last year’s market declines; while the MSCI World index fell by 8.7%, healthcare stocks grew 4.8%.
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.
European equity markets have struggled to perform since the start of 2018 owing to the relaunch of trade wars by US President Trump, coupled with uncertainty surrounding Brexit.
The US political landscape remains deeply divided as Republicans and Democrats gear up for next year's Presidential election.
Brexit discount means strong stocks are cheap
Valuations across the bond market are looking expensive. The relationship between duration and yield is stretched to the extreme.
Despite a recent sell-off, $17trn in global bonds trade with a negative yield.
Market data is pointing towards a general increase in expectations of a recession in the next 12 to 18 months.
Recent history has been challenging for income-seeking investors.
For most of the world, the economic recovery from the Global Financial Crisis has been weak compared to previous cycles.
Japanese stocks have lagged their global peers so far this year, as uncertainty over US-China trade frictions and the impact on the global economy have clouded the outlook for corporate earnings.
Need for diverse portfolio return drivers
The worst case scenario for emerging market (EM) equities has started to unfold, turning a potentially positive outlook around by 180 degrees.
Bonds go down when equities go up, is the common perceived wisdom among investors.
Boris Johnson's arrival at Number 10 has done little to enhance UK investor confidence; he has wasted no time setting a collision course with the EU over his no-deal strategy, and members on the other side of the House of Commons.
If you had not been paying attention to financial markets for quite a few years and then – from this position of naivety – had looked at the eurozone, your likely conclusion would be that the region's equity bourses were offering tremendous value.
Over the past decade, we have endured the tired pessimism that still looms from the 2008 Global Financial Crisis.
Views on US equities seem to neatly fall into two camps.
A quality bias has been the right way to invest in emerging market equities for many decades.
Brexit uncertainty continues to act as a drag on the UK economy, holding back business investment and undermining consumer confidence.