Is the new Goldilocks for real?

The dramatic market moves in late 2018 led to significant investor worries going into the new year. But the first part of 2019 seemed to bring changes. Is the Goldilocks trinity of stable growth, low inflation, and accommodative monetary policies back in place? Or did the recent U-turn taken by the US Federal Reserve, in pulling back its previously communicated hiking cycle, result in letting a dead cat bounce once more? In this global macro outlook for the second quarter of 2019, the Macquarie Global Multi-Asset Team examines whether the “new Goldilocks” economy is for real.

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The views expressed represent the Manager's assessment of the market environment as of April 2019, and should not be considered a recommendation to buy, hold, or sell any security, and should not be relied on as research or investment advice. Views are subject to change without notice and may not reflect the Manager's views.

Past performance does not guarantee future results.

International investments entail risks not ordinarily associated with US investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations.

Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility and lower trading volume.

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Currency risk is the risk that fluctuations in exchange rates between the US dollar and foreign currencies and between various foreign currencies may cause the value of investments to decline.

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