Threat of Global Recession increasing

Germany’s economy is on the verge of a recession  and already has negative interest rates

US economy continues to weaken especially in the capital goods / industrial sector

US year over year corporate profit growth slowing to 1-2%.

Global business confidence continues to erode from trade wars, Brexit fears, inverted yield curve, negative rates in Germany and Japan


A cautious investment stance is critical in this environment. Maintain high cash levels, reduce equity exposure and tilt equity exposure to more defensive groups like utilities, consumer staples, telcos and Reits.


Posted in Portfolio.

Leave a Reply