Weekly Commentary January 3, 2020
Teleconference Preview: What to Expect from the Markets in 2020
By Tim Courtney, Chief Investment Officer
2019 was a solid year for the markets, with most primary asset classes generating positive returns. Broad market equities were up between 18 to 36 percent, bonds were up between 4 and 14 percent and real estate was up between 22 and 28 percent as of Dec. 31.1 Even commodities, which have had a rough five years, broadly posted gains of between 7 and 15 percent.1
Investors entered 2019 with anxiety and doubt following a poor ending to 2018. The market was concerned about risks of a recession, increasing interest rates and worsening global trade tensions. By the end of the year, these risks were greatly reduced. While there are still some concerns of a recession in the back of investors’ minds, it has thus far been kept at bay and recent data is showing no clear signs of a weakening.2
For a more thorough review of 2019 and our outlook for markets in 2020 – including a discussion on how the upcoming elections could impact markets – please join us for Exencial’s first teleconference of the year taking place on Thursday, January 23 at 11:00 a.m. central.
Register for the teleconference here, and feel free to submit any questions you have ahead of time to firstname.lastname@example.org. We will do our best to address all inquires during the Q&A portion of the call.
1. Morningstar Direct – Data for Bloomberg Barclays 1-3 Year Treasury TR Index, Bloomberg Barclays US Aggregate Bond TR Index, Bloomberg Barclays US Corporate High Yield TR Index, Russell 1000 Growth TR Index, S&P 500 TR Index, Russell 2000 TR Index, MSCI EAFE NR USD Index, MSCI Emerging Markets NR USD Index, FTSE Nareit All Equity REIT TR Index, S&P Global ex-US Property TR Index, iShares S&P GSCI Commodity Indexed Trust GSG and iPath Bloomberg Commodity TR ETN DJP.
2. Bloomberg – U.S. recession odds steady as stocks reach fresh record
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