Given the spectacle that played out in Singapore at the beginning of this week, it’s easy to forget the state of uncertainty that markets and individuals lived in at times last summer when Kim Jong-un and President Trump traded nuclear war intimidations.
Generally speaking, the purpose of EVA is to communicate Evergreen’s overall outlook on the markets and economy. We tend to stick to this script by writing on topics such as central bank policy, inflation, the stock market, the bond market, and energy. One theme we try to avoid – or at least stay neutral on – is politics.
It’s been nearly a year since our newsletter last touched on the passive investing phenomenon. And yet, despite its absence from these pages, direct asset flows into passive vehicles have continued to outdo their active counterparts at a dizzying pace.
The original idea for this week’s EVA was to compile a list of “winners” and “losers” should the escalating trade war play out fully.
The second quarter of 2018 kicked off with a bang as growing tensions in technology and trade sent investors searching for cover on Monday. In fact, it was the worst April start since… drumroll please… 1929.