The world economic expansion is still trucking along, although it has become a bit more dependent than previously on the U.S. economy, and should support some further equity gains, although against a background of rising political risks—especially the risk of trade wars...
In New Zealand, the latest forecasts are for further economic growth, but not on a scale that looks to deliver strong growth in corporate profits...
World economic growth is still supportive for global equities, and fund managers currently expect equities to make further gains. But the outlook, particularly this late in a sustained global business cycle, is becoming more vulnerable to various risks, notably higher bond yields (especially in the U.S.) and various geopolitical risks...