Bloomberg wrote Wednesday that, led by encouraging data from China and Germany, global growth is more synchronized than anytime since the recovery after the 2008 financial crisis. Purchasing managers’ indices from the US, Europe, and China have been rising in unison since January, reflecting optimism that the growth is sustainable. Falling unemployment in Europe, looser monetary policy in Asia, and China’s stimulus are all reasons to be optimistic, with Bloomberg economist surveys predicting no G-20 country will post a decline in output this year.

But before throwing caution to the wind, there are still risks to be wary of looming on the horizon. Political uncertainty in Europe with coming elections in France and the Netherlands, as well as slower spending by US consumers and the possibility of trade tensions between the US and China are all causes for concern.