Quarterly Market Environment Report


Mercer's market environment report provides a detailed review of the capital market environment and trends on a wide range of assets classes.


The April 2019 edition covers the following discussions:


  • A broad based rebound in Q1
  • Growth outperformed value over the last year

Macro Environment

  • The Fed shifted its policy stance
  • Global growth is slowing but recession fears overdone
  • Chinese stimulus should help growth in 2019
  • US growth should remain above trend in 2019
  • Does the yield curve suggest a recession?

Financial Markets

  • US stocks rebound on Fed shift and trade progress
  • Slowdown in global growth has weighed on
  • European equities
  • Emerging market fundamentals remain solid
  • Rates fall and spreads narrow as the Fed pauses
  • High yield bonds rebound, but late cycle risks remain
  • The dollar was flat despite the Fed’s U-turn
  • Environment for EMD becomes more supportive
  • Hedge funds: Rebound in Q1
  • LDI: Gearing for a move toward strategic hedge ratio
  • Factor and manager universe performance
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