Bond bears thought their time had come in 2018.

In May, risks of a trade shock sharply rose following US President Donald Trump's increasingly aggressive rhetoric towards China.

Emerging markets have generally performed well over the last three years; the MSCI Emerging Markets index has returned over 30% during the period and we believe the asset class still has significant potential to grow.

Europe's run of poor manufacturing and trade data continued in June.

There are several signs the US equity market is bifurcating, with pockets of overvaluation and undervaluation becoming extreme.

The stockmarket has been challenging for value investors over the last few years and this May was particularly difficult.

Developments in healthcare provision and technology

Trade tensions with US dragging growth

Focus should be on reliability of income, report argues

Average rate hit nearly 1.5% in May