United States

The tale of two: Market rebound and slowing economic growth


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March marked the 10th anniversary of the low on the S&P 500 during the global financial crisis. Since then, the index produced an annualized total return of 16.7 percent over one of the best-performing decades for risk assets returns on record. The market rebound in late December last year continued through March, but relied heavily on confidence in the ability of central banks to contain downside risks of slowing global growth. Therefore, the most significant risk to this rebound and low volatility is that central banks lose control of this narrative. In his recent “60 Minutes” interview, Federal Reserve Chair Jerome Powell confirmed what we predicted in our 2019 outlook, namely “growth has slowed in some major economies.”

Information in this document was prepared by DiMeo Schneider & Associates, L.L.C. and although information in this document has been obtained from sources believed to be reliable, RSM US Wealth Management LLC, DiMeo Schneider & Associates, L.L.C. and their respective affiliates do not guarantee its accuracy, completeness or reliability and are not responsible or liable for any direct, indirect or consequential losses from its use. Any such information may be incomplete or condensed and is subject to change without notice. The Frontier EngineerTM is a registered trademark of DiMeo Schneider & Associates, L.L.C.

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