Janus Henderson Credit Risk Monitor
We remain cautious despite a better-than-expected first-quarter earnings season
How not confuse cyclical issues with structural ones
North American equity markets have rewarded investors in 2019 and are at or near all-time highs.
The major boost to global equity markets this year has been the 180-degree policy U-turn by the Federal Reserve, from tightening to loosening interest rates, and from quantitative tightening to the renewed provision of liquidity to financial markets....
Easing trade tensions and growing corporate earnings behind improved metrics
Japanese stocks have lagged their global peers so far this year, as uncertainty over US-China trade frictions and the impact on the global economy have clouded the outlook for corporate earnings.
Now a well-chronicled global incident, on 9 March 2009 the S&P 500 index suffered the worst decline in value since the Great Depression.
Fears of a full-blown trade war and slowing economic growth appear at odds with the progress being made by companies around the world.