In May, risks of a trade shock sharply rose following US President Donald Trump's increasingly aggressive rhetoric towards China.
Fears of a full-blown trade war and slowing economic growth appear at odds with the progress being made by companies around the world.
'Markets will need to get used to this'
Equity markets are being driven by the fact that bond yields have collapsed.
Can British companies still prosper after Brexit?
Fed actions 'murder' bull market
Trade, inflation, slow growth and yield curve to blame
Brexit and US-China tensions still to deal with
Experts fear 'tit-for-tat tariffs' could spark financial slump
Headwinds expected into Q2
Having spoken to numerous market participants, we discern a number of areas of current concern.
China-US tensions escalate again
Trust recovering from volatile 2018
Growth still strong and valuations attractive
Bear markets more common than investors think
Best stock picks uncovered
In 2018, emerging markets experienced a risk-off period, taking a hit from a combination of rising US interest rates, dollar appreciation and major political tensions pitting the US against China, Russia and Turkey.
Strife ahead of Chinese New Year
How are companies weathering trade war storms?
Elections and oil prices among top talking points
Levies suspended - but how long will US-China detente last?
Shares in main markets 'remain good value'
China won't give in to excessive demands
Trump showing no signs of backing down