With strong GDP continuing, global investor risk moderated in 2018, according to Euromoney’s country risk survey – but analysts are poised for a bumpy ride in 2019.

Investor safety has come under close scrutiny since June, resulting in a small but discernible decline in the global average risk score, halting a four-quarter improving trend.

Global risk subsided in the first half of the year, according to Euromoney’s country risk survey, with confidence in Europe maintained and commodity producers benefiting from better terms of trade.

The risk picture has improved, but geopolitical tensions over North Korea, Russia and Syria, the prospect of global trade wars and other concerns including monetary tightening remain key threats, warn analysts.