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Adapting to the ageing
US cycle

Will 2019 be the year the cycle ends?

After all the bullish buoyancy of last year, the US economy finally looks set to slow in 2019. President Trump’s fiscal stimulus has probably done enough to avert a recession for now, but cyclical concerns are likely to become a major market driver in H2.

Regardless, there’s limited room for equity upside in a world of stretched valuations and tighter liquidity conditions, even accounting for the sell-off of late 2018. Greater downside pressure seems inevitable, but risk reducers could provide some comfort.

Fed policy will also be a focal point and fixed income investors will need some clarity before adopting a position on treasuries with any great or lasting confidence. Inflation-linked and high yield bonds could appeal at various stages.

Our guide to the ageing US cycle

Our guide to investing at this late stage of the cycle in the US could help you take control of your investments, your way.

In it you will find a summary of the themes at play, a key chart to have in mind and the main events to look out for. You’ll also find some ETFs to consider using along the way.

US Equity Spotlight

The enduring strength of the US economy and the S& 500 have been magnets for investors. But nothing lasts forever, and the cycle is ageing.

Use our US Equity Spotlight to guide you through the latest outlook, investor sentiment, and returns and valuations. Dig deeper for detailed insights into the way key US indices differ.

Relevant Products

Equities
Bloomberg Ticker
AUM (MS)
TER
SP5 FP
€7.6BN
0.15%
MVAU
€74.4M
0.20%
Bonds
Bloomberg Ticker
AUM (MS)
TER
TIPU
€665M
0.09%
BUOY
€410.9M
0.10%
USHY
€203.9M
0.30%
All of our investment recommendations are recorded here, while you’ll find the key risks associated with each product here. TER and AUM correct as at 16/01/2019.

Our US equity range explained

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Our US equity range explained

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Our US equity range explained

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Our US equity range explained

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Need help exploring our full range?

We’ve organised more than 220 funds around 6 simple objectives, to help you on your investment journey.
Copyright 2019 Lyxor – Societe Generale Group
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