How much longer can the bull run?
So, what can we expect in 2019?
The investment environment is clearly becoming more challenging as the global economic cycle matures. With economic growth, global politics, and central bank stimulus all at turning points, volatility has risen and draw downs are becoming more commonplace. Investors should expect more of the same in 2019, as markets begin to try to anticipate an end to the cycle.
Where are we now?
While the average bull market tends to last for 10 years, it doesn’t just die of old age. Although this year has been a lot more volatile than the last, we think this is consistent with a maturing cycle and think there’s still room for stocks to grow
Opinion by UBS USA