Good Riddance

My Chart O’ the Day comes from JP Morgan Asset Management, a look back at a miserable fourth quarter for virtually all asset classes – a fitting capper for The Year No One Made Money, as I christened 2018 back in November…

• The fourth quarter of 2018 delivered some of the worst returns that risk assets have experienced in this expansion, with the MSCI All Country World Index (ACWI) down 12.7%. Concerns over a late-cycle slowing, tightening global liquidity, trade protectionism, corporate leverage and political gridlock all coalesced to drive a repricing of growth prospects.

A lot of Wall Street professionals were thrilled to see 2018 in the rear view mirror. Good riddance.

Source:

The Weekly Strategy Report (January 7, 2019)
JPMorgan Asset Management – January 7th, 2019