Most investors shunning energy companies due to oil price volatility
The UK market is a fantastic contrarian investment for those investors able to take a longer-term approach to their portfolio.
Japanese stocks have more than doubled their returns since December 2012, on the back of Abenomics, but many investors are still not convinced of the sustainability of the rally.
Markets continue to climb the proverbial wall of worry and the S&P 500 index was back into record-setting mode in April.
Today we are seeing change in the political environment, investor priorities and market landscape at a faster pace than ever before.
The UK economy continues to grow. However, ongoing wrangling over our exit from Europe and broader domestic political uncertainty has seen growth expectations reduced to a rather uninspiring 1.2% in 2019, according to official forecasters.
The rhetoric over the US-China trade war has again increased, triggering the biggest fall in US stock prices since January.
Faced with ongoing uncertainty and volatility, global macroeconomic commentators are in two distinct camps: one that observes symptoms of recession and another that observes signs of a global recovery.
As we enter Q2, we see particular value in the hard currency and frontier market spaces within emerging market debt (EMD).
Having spoken to numerous market participants, we discern a number of areas of current concern.
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.
Traditional sources of investment income are facing structural issues, while the alternative income sector is booming.
Japanese equities have been routinely shunned by global allocators for decades.
As we approach late cycle, global markets are characterised by low growth and falling inflation.
Last year was challenging for Japanese equities.
Debt has become the opioid crisis of the global economy.
Bond investors spent most of last year transitioning towards a more fundamentally driven approach to selecting assets.
There is something strange going on in Europe according to some commentators - the market has rallied aggressively post the trade war-induced sell-off in the fourth quarter of 2018.
US stocks had a turbulent last quarter in 2018 and have been somewhat volatile since the start of this year.
We expect to see continued market volatility and macroeconomic uncertainty in the UK throughout 2019, not least due to Brexit.
While we are stock-pickers, we do not ignore the business cycle; analysing it helps us determine when to allocate capital to certain companies.
Last month the US yield curve inverted, with the yield on 10-year Treasury bonds dipping beneath the yield on 3-month Treasury bills.
In recent weeks, investors have fixated on the inversion of several sovereign yield curves, most notably the US Treasury curve.
A troubled Brexit with Parliamentary stumbles and deadline extensions, while the original departure date has come and gone.