The yellow line tracks the commodity group returns, the orange line emerging markets and the green line tracks developed markets.
Three things stand out to me.
- Commodities have rebounded after 5 years of being the worst performing asset class.
- Emerging markets and commodities have a higher inverse correlation to commodities than developed markets.
- For the first time over the past decade the return on all three finished in a row.
JPM – Review of Markets Q4/2017
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