The volatility in the markets at the end of 2018 raised concerns about the outlook for 2019. Investors may have worried that sources of support were “beyond the peaks”—peak liquidity and then, probably, peak growth in GDP and corporate earnings. Looking through the market noise and taking a macroeconomic outlook, the key investment themes will involve navigating the new investment environment where the economic momentum is waning and the markets have become increasingly unsettled.