Market Update - March 2019

In February, risk appetite prevailed in the environment of dovish rhetoric from major central banks and some tentative signs of a recalibration in global growth prospects. Of note, the Federal Reserve continued to exercise caution and patience in its communique, while speculation for a dovish adjustment from the European Central Bank also buoyed sentiment. Encouragingly, hopes for an amicable outcome to the US-China trade debacle improved drastically after the March 1st deadline to raise tariffs on Chinese goods lapsed. Meanwhile, reports emerged that a final trade deal could be signed in the matter of weeks, with policymakers on both sides citing progress along the way – helping to dispel some of the pessimism that’s been plaguing the marketplace over the last several months.