city
yellow
U.S. Fixed Income Asset Allocation Outlook – Jan 2020
Posted: Monday, February 3rd, 2020

If 2018, as dubbed by Jeffrey Gundlach, was a “don’t lose money year,” 2019 can rightly be characterized as the opposite with a broad rally in risk assets globally. Coming off the elevated volatility in the last few trading days of 2018, this year marked the return of accommodative global monetary policy. Following the “Powell Pivot” in January, the Federal Reserve (Fed) cut its target funds rate three times in 2019 and began temporary operations to expand its balance sheet to stabilize the overnight repo market. This propelled United States (U.S.) equities, which returned 31.49%, as measured by the S&P 500, to a record high. The U.S. bond market, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, also produced strong returns amid falling U.S. Treasury (UST) yields, returning 8.72%, its strongest calendar year return since 2002. Another more dubious milestone was the rise of negative yielding debt globally, which peaked at just over $17 trillion, in U.S. Dollar terms, in August.

Read the PDF

logo

DoubleLine

333 S. Grand Ave.
18th Floor
Los Angeles
CA 90071

213.633.8200

 

This is a Test!

DoubleLine is testing our emergency back-up plan. If this were a real emergency, DoubleLine would be posting news, updates, contact information, webcast or conference call information here to keep our clients updated on the situation. To contact DoubleLine, please click here.

×
 

Thank you for your request(s). You will receive slides after the webcast has started. Replay and Recap notifications will take several days following the compliance review.

×
 

Please fill in your information below in order to open this article in your browser.

I am an Institutional Investor

[recaptcha]