FYI: With 2 weeks to go in 2018, cash (short-term treasury bills) is king, outperforming all of the major global equity indices.
Intermediate-term bonds (10-year treasury) are also down on the year due to the rise in interest rates. If this holds through year-end, it would be the first time since 1969 that both stocks (S&P 500) and bonds (10-year treasury) finished a calendar year with a loss.
Meanwhile, Cash is on pace to have its best year since 2007 as the Fed continues to normalize interest rates.
Regards,
Ted
https://pensionpartners.com/cash-is-king/
