GTC Trendline – December 2019
Global outlook: Despite continued volatility in Q4,
2019 ended on a high note for investors as markets responded buoyantly to news of a phase 1 trade agreement between the US and China as well as a victory for Prime Minister Boris Johnston in the UK snap general election ensuring a parliamentary majority and advancement on passing a Brexit deal. Global developed markets tabled 8.56% (USD) over the quarter ending the year up 27.67% (USD). Emerging Markets rallied on the trade agreement news, printing a strong 11.84% (USD) return in Q4 ending the year up 18.42%(USD).
Following the US Federal Reserve’s indication in October that it was unlikely to lower rates further and keeping rates on hold at its’ December 11 meeting, global bonds ended the quarter marginally down (-0.35% USD) and fi nished the year up 5.90% (USD).
