While trade tension and government investigations may create unknowns, the secular drivers of technology and health care are diverse and growing. We believe we are at a unique crossroads as innovation in science and technology converge at an unprecedented pace, which is creating new investable opportunities.
We have shifted the portfolio slightly more defensive, while maintaining exposure to areas we believe should participate in market upside.
While the correlation between equity and fixed income markets has been sending
mixed messages, our panelists believe policymakers are a formidable backstop to
help sustain the economic expansion.
Fear of recession has depressed valuations of many economically sensitive businesses. Contrary to popular belief, this may be an opportune time to invest.
The risks of a prolonged U.S.-China trade standoff have increased, but we believe long-term fundamentals in emerging markets will offer opportunities.
Trade talks between the U.S. and China have stalled. Ivy believes a near-term deal is still in the cards, but a prolonged stalemate heightens the possibility of recession.