Stocks, Bonds, Oil, Bitcoin Are All Up. The Everything Rally Is Back, Worrying Some Investors.

5/5/19
 
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from The Wall Street Journal,
5/5/19:

Nearly 90% of 70 financial asset classes posted positive total returns this year through April.

After a brutal 2018, it has been nearly impossible for investors to lose money this year. If it sounds too good to be true for the rest of 2019, it just might be.

Stocks, bonds, credit markets, commodities and even cryptocurrencies have all risen in 2019, with some asset classes such as U.S. equities recently scaling fresh record highs.

Nearly 90% of the 70 financial asset classes tracked by Deutsche Bank posted positive total returns in U.S. dollar terms this year through April, according to the firm’s strategists Jim Reid and Craig Nicol. Total returns capture the effects of both price movements and cash received, such as dividends or bond coupons.

The links between markets appear to be growing. Last year’s swoon came after the broadest rally ever in 2017, when only 1% of assets fell. And six of the most widespread rallies on record have been clustered since 2000.

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