URTY - 2019 Global Market Outlook - Q2 Update: The Pause That Refreshes
Global central banks have turned dovish, China stimulus is stronger than expected and trade-war tensions are easing. The cycle is becoming slightly more supportive for equities, but we believe it's late in the game and upside potential is limited.
Key market themes
Markets are caught between incoming data pointing to slower global growth and forward-looking factors that suggest improvement later in the year. We think global cycle conditions will moderately improve as we head deeper into 2019, but we see the window of opportunity for equity markets as limited. We have an underweight preference for