powerpoint presentation€¦ · corporate bond market’s setbacks have been painful and out of...

“Emily (the yellow rose)

may have inspired the

song, but investors are looking for a

few assets classes to

motivate them in 2019.”

(800)

(600)

(400)

(200)

0

200

400

600

-15%

-10%

-5%

0%

5%

10%

15%

2000Q1 2003Q4 2007Q3 2011Q2 2015Q1 2018Q4

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

U.S. Treasury Aa Credit A Credit Baa Credit U.S. MBS CMBS ABS Ba Credit B Credit Caa Credit High Yield Aggregate

4Q2018 YTD 2018

-20.0% -16.0% -12.0% -8.0% -4.0% 0.0%

S&P 500

Russell 3000

Russell 1000

Russell 1000 Growth

Russell 1000 Value

Russell Midcap

Russell Midcap Growth

Russell Midcap Value

YTD 2018 4Q2018

“The corporate

bond market’s setbacks have been painful

and out of character for

this long-lasting bull

market.”

“Housing is able to

provide a useful look

on the business

cycle.”

“Rose” from page 2

“…historically large changes

in real oil prices lead changes in Texas job growth by about six months.”

“…uncertainty sentiment

drivers have a fair amount of influence on stock price

volatility and reduced

investments in infrastructure construction.”

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