This review features world capital market performance and a timeline of events for the past quarter, as well as an annual review for 2019.
Download the full PDF report at the end of this post for complete commentary.
These headlines are not offered to explain market returns. Instead, they serve as a reminder that investors should view daily events from a long-term perspective and avoid making investment decisions based solely on the news.
Equity markets around the globe posted positive returns in the fourth quarter. Looking at broad market indices, US equities outperformed non-US developed markets but underperformed emerging markets.
Value stocks underperformed growth stocks in all regions. Small caps outperformed large caps in the US and non-US developed markets but underperformed in emerging markets.
REIT indices underperformed equity market indices in both the US and non-US developed markets.
Equity markets around the globe posted positive returns in 2019. Looking at broad market indices, the US outperformed non-US developed and emerging markets for the year.
The value effect was negative in the US, non-US developed markets, and emerging markets. Small caps outperformed large caps in non-US developed markets but underperformed in the US and emerging markets.
REIT indices outperformed equity market indices in non-US developed markets but underperformed in the US.
Download the PDF version for a complete review featuring additional performance data for individual asset classes and further commentary.
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