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
PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE RETURNS. Information and opinions provided herein reflect the views of the author as of the publication date of this article. Such views and opinions are subject to change at any point and without notice. Some of the information provided herein was obtained from third-party sources believed to be reliable but such information is not guaranteed to be accurate. In addition, the links provided within are for convenience only and the provision of the links does not imply any sponsorship, endorsement, or approval of any of the content. We do not guarantee the content or its accuracy and completeness. The content is being provided for informational purposes only, and nothing within is, or is intended to constitute, investment, tax, or legal advice or a recommendation to buy or sell any types of securities or investments. The author has not taken into account the investment objectives, financial situation, or particular needs of any individual investor. Any forward-looking statements or forecasts are based on assumptions only, and actual results are expected to vary from any such statements or forecasts. No reliance should be placed on any such statements or forecasts when making any investment decision. Any assumptions and projections displayed are estimates, hypothetical in nature, and meant to serve solely as a guideline. No investment decision should be made based solely on any information provided herein and the author is not responsible for the consequences of any decisions or actions taken as a result of information provided in this book. There is a risk of loss from an investment in securities, including the risk of total loss of principal, which an investor will need to be prepared to bear. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular investor’s financial situation or risk tolerance. Exencial Wealth Advisors, LLC (“EWA”) is an investment adviser registered with the Securities & Exchange Commission (SEC). However, such registration does not imply a certain level of skill or training and no inference to the contrary should be made. EWA may only transact business in those states in which it is registered, notice filed, or qualifies for an exemption or exclusion from registration or notice filing requirements. Complete information about our services and fees is contained in our Form ADV Part 2A (Disclosure Brochure), a copy of which can be obtained at www.adviserinfo.sec.gov or by calling us at 888-478-1971.