Markets, economy, stocks, growth, global, fixed income, international, asset classes
While tariffs remain a concern, the key issue is the degree—which we deem moderate—of U.S. recession risk. The current global backdrop makes the U.S. dollar unlikely to strengthen. Earnings growth expectations are modest, valuations are undemanding
After global earnings growth ground to a halt in 2019, we expect a modest recovery this year—a key element of our positive view on equities as an asset class.
The US recovery is now the longest on record. Nobody knows exactly how much longer this expansion will last.