Happy New Year! All of us at XYIS are excited for 2020, we hope you are too.
Here are some highlights on the index returns for December 2019:
- Returns were positive across global equities with the exception of US REITs and global REITs.
- Domestic small cap stocks were in line with their large cap counterparts; small cap beat large cap internationally while emerging markets had the highest monthly return; value was mixed domestically as it underperformed growth in large cap but outperformed in small cap.
- Fixed income returns were mainly positive; however, intermediate and longer dated Treasuries fell as rates rose along that portion of the curve.
- As this period ended the decade, it's worth a few minutes to look at the extraordinary returns earned over the last ten years across equity and fixed income markets. As a reference point, a 60/40 portfolio simply comprised of the MSCI ACWI and BloombergBarclays Global Agg (hedged USD) earned a very strong 7.1% return over the last ten years.
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