A Brutal Global Market in 2018 Has Just One Champion
- Of more than 20 assets, few can escape 11 months of carnage
- Risk-adjusted returns show T-bills triumphant, EM bonds beaten
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Gather a basket of the world’s biggest assets. Strip out the volatility. Calculate the returns. Then find a nice corner where you can weep, and wish you’d put everything in T-bills.
After another bruising week as portfolios sank deeper into the red, there may be no escaping it: Almost everything is going to lose this year.