Relative to Covid-19, a possible Middle East conflict with Iran at the beginning of the year was met with little fanfare by Treasury markets. The 10-year Treasury yield held steady in the 1.80-1.90% range as the prospect for war was overshadowed by the signing of the...
The aggregate U.S. corporate index had a historic year in 2019 achieving 14.3% in total return which was only bested by a 19.7% return in 2009. These two periods of outperformance followed negative returns in the previous year: -5.8% in 2008 and -2.1% in 2018. Buy...
This comes after a year of extremely negative returns of -4.45% compared to -2.81% for index eligible industrials with spread widening in longer duration bonds contributing to the majority of the underperformance.
