Investment Strategy - Complications increase, but outlook remains positive

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The global economy is humming along, supported largely by the US. Europe and emerging markets are lagging – to different degrees, affected more than the US by trade tensions and a slowdown in China.

The ABN AMRO Investment Committee continues to prefer equities over bonds, with a preference for US stocks. Commodities also remain in favour.  

The US has seen GDP growth of 4.2% in the second quarter, supported by fiscal stimulus and tax reductions. The President of the New York Federal Reserve recently said the US economy was ‘as good as it gets,’ given the combination of strong growth and relatively subdued inflationary pressure. This positive scenario has, in turn, fed company earnings growth and fuelled US stock market highs.

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