Global Outlook Q2 2019

Welcome to Al Mal Capital Q2 2019 Global Market Outlook.

The first quarter of 2019 is one of the most memorable on record with strong returns across all asset classes. Earnings growth expectations have been revised downward quite sharply, macroeconomic numbers came out generally lower than forecasted and geopolitical risks remained high. 

But equity markets were able to climb the “wall of worry” as U.S stocks posted their best quarterly return since 2009. Indeed, the deteriorating fundamentals were offset by improving expectations for a trade deal with China and maybe most importantly global central banks moving back to a dovish stance.

In the first part of this publication we review the “10 stories to remember” from this eventful start of the year. 

We then share our views for the second quarter and beyond – the “good, bad and ugly” developments investors might have to deal with in the foreseeable future. 

The last section includes our macro and fundamental views on the main regions.

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