By Kevin M. Hedley
2018 was a year that most people who watch the financial markets are likely going to want to forget. There were few positive numbers across the different asset classes and sectors. At the broadest level the U.S. bond market was the only market to see a positive return—all of one basis point.
It was an unusual year with few places to find a positive return. In fact of the eight major asset classes none of them provided a return above 2 percent – the first time since 1972. Even in 2008, at least one asset class saw a return around 5 percent
And another point on how extraordinary the end of the year was, December’s 9.2 percent drop was second worst December on record after 1931.
