ALTHOUGH volatility is a daily fact of life in financial markets, it would be fair to say that the past six months or so have been particularly difficult for investors. On top of the political upheaval that is Brexit and an offshore marine sector that has yet to recover from a devastating collapse in oil prices, markets are now grappling with a hugely unpredictable US-China trade war that, by most accounts, will have negative consequences for the global economy.

The effects are already being felt - the Singapore government has regularly revised the growth outlook downward over the past few months; with China, the US and the eurozone reporting weaker numbers. Therefore, it is no surprise that companies are finding that doing business is becoming increasingly challenging and profits are being squeezed.

If companies are facing tough times, then spare a thought for their stakeholders - either in corporate debt or equity - who must surely also be feeling the pinch as economic anxiety rises amid growing uncertainties.