Judging the end of the market cycle is difficult. Here, Schroders fund managers - including Nick Kirrage, Nick Kissack and Alex Breese - discuss charts that have caught their eye.
Snapshot: Leading indicators suggest further weakness to come, but European risk assets are already priced for recession.
As Theresa May meets European leaders seeking a better Brexit deal, the UK economy heads for a period of heightened uncertainty and stagflation.
New emissions standards for cars have resulted in weaker production in an important part of the German economy.