trade wars

We are seeing a new bout of deterioration in fundamentals, with earnings revisions worsening and PMIs back on a declining path across emerging markets (EM).

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

Trade tensions with US dragging growth

Clouds of Brexit and trade wars still hang over investors

Global economic cycle is among the longest in history

Re-escalation of trade war tensions could feed end-of-cycle concerns

Fears of a full-blown trade war and slowing economic growth appear at odds with the progress being made by companies around the world.

Technology and politics among key themes

'Markets will need to get used to this'

US markets still not without dangers