Q1-2019 Global Markets Review and Outlook

Inside, you will find a summary of market activity and our market outlook.

• Expect the Bull Market to Resume: Following equities’ steep Q1 ascent, we expect equities to keep climbing, though the pace likely slows in the year’s second half.

• Strong Economic Drivers: In both developed and emerging markets, economic drivers remain strong. We believe these fundamentals will come to the forefront as sentiment improves.

• Global Political Gridlock: In much of the developed world political gridlock persists decreasing the likelihood that sweeping legislation, potentially hurting equities, passes.

Investing in stock markets involves the risk of loss and there is no guarantee that all or any capital invested will be repaid. Past performance neither guarantees nor reliably indicates future performance. The value of investments and the income from them will fluctuate with world financial markets and international currency exchange rates.