FYI: The chart below shows returns across asset classes in 2015. Key conclusions:
- The turbulence in high yield was really not a big deal when compared with the performance of other risky assets, including equities
- US stocks down 1% and stocks in core Europe up 7%
- EM equities at the extremes, with Brazil down 13% and Russia up 23%
- USD EM corporate bond returns down modestly
- The best performer in fixed income was…US and European government bonds
Regards,
Ted
http://www.ritholtz.com/blog/2015/12/returns-across-asset-classes-in-2015/print/
Comments
The correct answer is high yield municipal bonds.
Regards,
Ted
http://www.mutualfundobserver.com/discuss/discussion/24954/the-muni-trades-that-pushed-pimco-to-the-top-in-year-of-distress#latest