Markets continue to climb the proverbial wall of worry and the S&P 500 index was back into record-setting mode in April.
In praise of the 'outsiders'
Headwinds expected into Q2
Political risks front and centre of economist's speech
Four new entrants
Rethink of asset allocation decisions needed
Hopeful of revival amid geopolitical risks
Having spoken to numerous market participants, we discern a number of areas of current concern.
Market correction becoming more inevitable
China-US tensions escalate again
Launched in April
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.
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.
Last month the US yield curve inverted, with the yield on 10-year Treasury bonds dipping beneath the yield on 3-month Treasury bills.
Impact of political turmoil and Brexit
In recent weeks, investors have fixated on the inversion of several sovereign yield curves, most notably the US Treasury curve.
Which products will rise back?
Equity markets everywhere look 'reasonably placed'
Preparing for the worst despite upbeat sentiment
Economic and investor implications
Believes US is best place to invest
Spotlight on central banks
Current affairs, not debt, could be the main trigger