2019 Q1 Global Markets Review & Outlook

Through March 31, global equities were up 16.9% since December 25’s low and 12.2% in Q1. The MSCI All Country World Index has enjoyed the V-shaped recovery we expected following the sharp sell-off in December. Overall, this should be only the beginning of a great year for global markets.

  • 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.
*The foregoing information constitutes the views of Fisher Investments based on information believed to be reliable. There can be no assurances that Fisher Investments will continue to hold these views. These views may change at any time based on new information, analysis, or reconsideration.
About Fisher Investments

Founded in 1979, Fisher Investments is an independent, fee-only investment adviser with $189 billion under management.* Fisher Investments maintains four principal business units, Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments Private Client Group International, which serve a global client base of diverse investors. The clients of Fisher Investments and its affiliates include over 100,000 clients. Founder and Executive Chairman Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 09/30/21)