We believe the Brexit negotiations will conclude with a relatively ���soft��� Brexit. But, as current media headlines show, there are still a number of compromises that need to be made on both sides to seal the deal.
The performance of the US dollar significantly diverged from relative rate spreads.
Optimism faded following an agreement in principle for a “phase one” trade deal between the U.S. and China as details of the agreement underwhelmed market participants.
As we compiled the 2018 edition of our Long-Term Capital Market Assumptions, the world economy has enjoying its best period of synchronized growth in more than a decade.