Leading economic indicators suggest that economic growth has peaked, though a recession remains in the distance.
U.S. Leading Economic Indicators
While U.S. economic growth is likely to slow from 3.0% to 2.5% in 2019, we expect GDP to grow above trend
We think Fed policy will have a larger influence on the dollar, and the dollar will rally further, albeit within a range
Federal Reserve Policy
Estimates on the number of forthcoming hikes are declining, and we now see two more in 2019 before a pause in the Fed hiking cycle
Growth remains above potential and recession risks appear relatively low for 2019 across the U.S., Eurozone and Japan
Keep an eye on: Italy
Despite the substantial, recent sell-off in Italian assets, we believe there is room for additional weakness before a subsequent recovery
Based on a hypothetical model 60/40 portfolio. Recommendations are for informational purposes only and not intended to represent the tactical and strategic asset allocation of Voya’s Multi-Asset portfolios.