At the end of 2018, the market was in a downward trend caused by China-U.S. trade tensions, explicit global macro deterioration and excessive tightening of monetary policy by the Fed. This set the table for the S&P 500 Index to close in negative territory as investors sold their equity positions at a fast pace.
(Source: Equity flows have lagged far behind the rally )
Based on the factors above, central banks started to provide support for the markets and economy by inserting additional liquidity to Capital Markets.
The chart shows explicit growth in the Global