Our playbook for 2019

UBS
By January 8, 2019 01:04

Our playbook for 2019

UBS House View – Weekly Global

No major asset classes performed well last year. Indeed, in terms of the breadth of the weakness, with only two of the 19 major asset classes we cover delivering (meager) positive returns, it was the worst year in a generation. Even in 2008 three asset classes ended up. Equity markets snatched defeat from the jaws of victory: US stocks gave up the near 10% gain they'd registered by midyear to close 6.2% lower. Global, Eurozone and emerging market (EM) stocks all fell as well, with the Chinese market's 22.7% drop ranking it as the biggest major loser. Long-term investors can take comfort from the fact that, over the last two years, 16 of 19 asset classes have delivered positive returns. And over the past three years the MSCI All Country World Index has returned an average of 6%. 

UBS
By January 8, 2019 01:04

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