Amid rising market volatility, it behooves investors to mind the growing list of leading indicators turning negative. Cameron Hurst, Chief Investment Officer, highlighted some remaining investable areas of global markets, e.g. real estate, but noted the critical requirement for a disciplined exit process in order to protect capital as the cycle comes to an end.

With the G-20 in the rear view mirror and the China-U.S. trade war effectively kicked down the road, investors are rightly turning attention to earnings and macroeconomic indicators, many of which point to a tough patch ahead. On BNN Bloomberg, Cameron Hurst, Chief Investment Officer, highlights the viable investing environment that tends to prevail in the 12 months before recessionary periods, noting that portfolios need to be focused in the right areas of the market.

While the investment world waits for the Trump-Xi meeting at the G-20, Adam Murl, Head of Research, goes around the horn of the commodity complex providing an update of our views and discussing some of the conflicting moves that we've seen. Parsing through the data, commodity prices are broadly confirming the slowdown in economic and inflation data however interest rate cuts and a trade truce could flip the switch.

Investors face asymmetric risks before the U.S. & China resolve their trade war (or not). On BNN Bloomberg, Cameron Hurst, Chief Investment Officer, highlights the unfortunate but undeniable link between trade relations and the trajectory of global growth. Investors can only position portfolios with a barbell of secular, high-quality growth balanced with defensive equities until we have clarity on trade, which addresses growth which opens the door for Fed support. Doing nothing is hard, but investors just need to wait.

After big year-to-date gains equity markets were due for a pause but are investors in for more pain? Adam Murl, Head of Research, discusses why the escalating trade war between China and the U.S. will likely dictate the direction of risk assets through the second half of 2019. Hope remains for a fudge deal but increasingly aggressive actions on both sides are upping the risk.

Health Care has been a popular sector overweight for years; however, Adam Murl, Head of Research, explains why it’s time to shift exposure elsewhere as cyclical data improves and the Medicare for All headwind looks sustainable into 2020. Also, we discuss why a cyclical uptick could help European markets recover after their multi-year period of underperformance.

In this “mixed” environment offering reasons to be both positive and pessimistic, investors should remember the old adage, it ain’t over ‘til it’s over. Joining BNN Bloomberg, Cameron Hurst, Chief Investment Officer, highlight this key message back on April 10, 2019. Noting “growing slower” still offers opportunity and the possibility of new market highs, it is now all about how the divergent indicators develop from here.

Unconventional monetary policy appears to be back in vogue as central bankers around the world ditch efforts at normalization as inflation and growth data disappoint. With liquidity concerns off the table, Adam Murl, Head of Research, discusses what investors should be focused on for signs that risk assets can continue to rally or whether the bear case will play out over the coming months.

As estimates for 2019 are revised down, market commentators have become obsessed with discussing a potential earnings recession and what that might mean for investors. Adam Murl, Head of Research, discusses why an earnings recession is usually a negative sign for risk assets but also why we don’t yet view this as the base case. In addition, we touch on oil prices and why we continue to lean bullish.