Bond yields are plunging amid trade wars, we have low and falling inflation and economic growth is slowing - all of which should be triggering alarm bells and would normally be expected to negatively impact riskier assets.
However, these concerns have, as yet, failed to materialise in weaker risk assets. Equity markets this year have so far delivered strong growth, with most up by double digits and many at, or near, all-time highs. This is remarkable given the political and economic backdrop is so uncertain. Which areas of the market will see increased flows? However, look closer and you will see three distinct equity markets with massive dispersions in returns between different styles of investing. High growth and quality strategies have seen incredible returns since the Global Financial Crisis, yet...
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