Compared to 2017 when low volatility, a weaker US dollar and a synchronised upswing in the global economy allowed many asset classes, particularly in emerging markets, to flourish, 2018 has been a very different year so far for investors.
A divergence in growth expectations between the United States and other major economies has seen the US dollar strengthen, placing renewed pressure on many asset classes that performed well in 2017.
With nearly seven months of the year gone, it’s time to recap how things currently stand.
What assets have been hot, and not, since the start of 2018?
Thanks to Deutsche Bank, this chart has the answer, showing the total return of major asset classes so far. It’s even been kind enough to deliver a short explainer as to what’s driven individual moves.
For clarity purposes, the bars represent total returns year-to-date. The black symbols indicate total returns over the past three months.
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