![2018 2nd quarter market thoughts: The Fed, Tariffs and Bears, Oh My!](https://www.nepc.com/wp-content/uploads/2021/04/2018-Q2-MT-2-1-scaled.jpg)
NEPC’s Quarterly Market Thoughts examine a changing investment landscape marked by heightened US-China trade tensions and a flattening US yield curve. At this time, we recommend a modest increase in safe-haven fixed-income exposure and to trim US equities. Second-quarter performance of global equities and fixed income, and real assets are also discussed.