January 2020 Index Returns

Happy February!  I don't know about you but I was happy that Punxsutawney predicted an early spring; unfortunately I don't think his past track record of success is too reliable (insert investing joke here).

Here are some highlights of the index returns for January 2020:

• Global equities were mostly down 
  • S&P 500 fell 4 bps for the month, MSCI EM dropped 4.7% and the R2000V lost 5.4%
  • These losses were at least in part due to the Coronavirus (the S&P 500 fell over 2% and the MSCI EM over 5% in just the last 5 days of the month)
  • The R1000G is the one spot that currently seems impervious, gaining 2.2% in January 
  • Global REITs also gained in January, though remain negative for the last 3 months
• Opposite to equities, global yields fell, leading to increasing prices.  All FI benchmarks shown had positive January returns.
  • Treasuries generally outperformed Corporates and Munis, with the differences being larger further out the curve

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