Investing amid ongoing global economic concerns

Having spoken to numerous market participants, we discern a number of areas of current concern.

Global equities have enjoyed a wonderful start to 2019 - the best in a decade - after a poor close to 2018. This has prompted much talk about business cycles and the fact we may be nearing the end of this current cycle. Are active managers right to be gearing up for recession? Supporting evidence (and a further source of worry) is the inverted US yield curve, which has traditionally been a fairly reliable predictor of an impending recession. Although quieter on the surface, the US-China trade war is still providing headaches, especially as the already-imposed tariffs inevitably act...