Research believes the following three themes will be key to the markets:

• Sustaining growth via fiscal policy. Research believes the ongoing impact of fiscal stimulus will be readily apparent in 2019 and that policy will continue to play an important role for the economy and financial markets—potentially extending the duration of the current business cycle.
• Creating opportunity amid rising volatility. Research believes any bouts of market volatility should be embraced—not feared—by investors as an opportunity to rebalance portfolios toward targeted allocations.
• Fundamentals in focus. Research believes this economic and market cycle has more room to run given the team’s conviction in the fundamentals supporting economic growth and strong corporate profits. Depending on the measures, Research believes this cycle may prove to be the longest in history. Risks such as trade uncertainty, slowing global growth, and geopolitics do require careful monitoring, however, for their potential impact on the markets and economy.