The first quarter started off with a partial government shutdown, trade disputes, and the possibility of a hard Brexit. The end of the quarter and early second quarter data brought more positive economic signs – but with increasing trade spat risks most recently.
Financial Markets Review: The climb higher continues (Page 4)
Equities roared back in April with the S&P 500 index total return up by more than 4.0 percent. Although trade remains a big risk, further economic growth and low interest rates are positive for the markets.
The Outlook: Global headwinds are slowly abating (Page 5)
The global economy was in slowdown mode throughout 2018, as geopolitical developments and tighter financial conditions led to noticeably weaker growth in both Europe and China. As a result, U.S. export growth slowed dramatically.