Editor’s Letter

October data for most of the US economic outlook indicators continue to be positive for sustainable growth, but several indicators (e.g., ISM Manufacturing Index), are turning less positive reflecting some uncertainties creeping into future growth expectations leading into 2019.4 However, so far there is no confirming evidence of a recession anytime soon. Since the August (Fall issue) theme of The Journal of Private Equity there has been a significant increase in US equity market volatility. [...]a growing government budget deficit elevating its financing requirement that is contributing to rising bond yields and crowding out of private sector borrowing to support business investment. [...]an appreciating US dollar, and a slowdown in global commerce resulting from rising US trade restrictions vis-a-vis our major trading partners. Major US and multinational corporations’ performance are currently heavily dependent on continued strong growth in the United States as the rest of the developed, developing, and emerging market countries in the global economy are underperforming. [...]a slowdown in the US economy would be quickly translated into deteriorating revenue and profit performance and remove any underlying support for major equity markets.