Market Outlook: 9 Key Questions for 2019
In the second half of 2017, we adopted the phrase “Investing at the End of an Era” to highlight the fact that the extraordinary measures taken by global central banks in the aftermath of the Global Financial Crisis were nearing an end.
In emphasizing this, we felt that risk assets should outperform. We also noted that this was without precedent, meaning that the “Quantitative Easing” experiment had never been done before on such a broad and global scale creating an element of unpredictability.
As the calendars turned to 2018, investors were greeted with a positive boost via tax reform and a large increase in government spending. This extended the business cycle which is now a mere six months away for being the longest US economic expansion ever.