Shifts positioning amid trade troubles
Global equity markets' abrupt sell-off, a fortnight ago now, emphasised equity markets' fragility in the latter stages of a mature economic cycle.
Which asset classes will benefit?
Spread of new technologies
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.