FYI: Trends that held in financial markets for much of the year have turned around in the final quarter, spurring a challenge to investors as they consider a global economy in flux.
Take the stock market. American equities have been the stand-out performers for most of 2018, but are now falling short relative to emerging markets -- the big laggards in the second and third quarters. Among the G10 currencies, the Aussie and Kiwi were two of the three worst performers for the first nine months of 2018, but are now the best. In bonds, Indonesian debt was among some of the most beaten down, but is now flying.
Regards,
Ted
