Investors will have to grapple with once-unthinkable economic and market trends as they set about fine-tuning their portfolios next year. Where they end up will depend on five factors that are growing less stable by the day.
Market sentiment has improved in recent weeks as trade tensions between China and the US have de-escalated, while the US labour market has again outperformed expectations — and there are short-term signs of some bottoming out of Europe’s economic cycle. With that, US stock indices have reached new highs while both bonds and currency markets have been relatively calm.
Whether this performance will hold beyond the short term requires the revival of five assumptions that underpin most longstanding investment approaches.
您已閱讀14%（745字），剩余86%（4433字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。