Investment directions

Also Interesting

• European equities: look for the winners to play the reflation trade, value revenge, and ESG disruption
• Italy heads to the polls
• No April Fool

SPRING 2019

Once again, spring is near, a time of growth, renewal and restoration. But with concerns over slowing growth, uncertainty around economic and earnings outlooks, and ever-present U.S.-China and European political risks, investors should be prepared for potential spring storms and begin to consider defensive exposures. Our take on the major themes for this quarter: