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- Here’s how virtually everything you can invest in is performing this year
Here's how virtually everything you can invest in is performing this year
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Loading...Strategists at Bank of America Merrill Lynch recently published a giant list of asset-class returns for the year so far.
For an investor who is in the market for the long haul, this is a small snapshot. But it's still a good opportunity to reflect on how some of the biggest economic and political developments have shaped financial markets in 2017.
The returns shown below are as of March 15.
Last year's winner is this year's loser so far.
Russia's stock market is the laggard this year after being one of the best performers in the world in 2016. Last year, the RTS index surged 54%, while the Micex gained 29%, supported by the rebound in oil prices and prospects that President Donald Trump would improve US-Russia relations.
Biotech stocks are leading across sectors.
Among these indexes of 23 developed and 23 emerging markets, the biotech sector is leading the pack. Johnson & Johnson, the top constituent of the index, has jumped 26% since its late-January acquisition of the Swiss biotech company Actelion for $30 billion in cash.
The peso is shrugging off concerns about Trump.
The Mexican peso suffered its worst tumble since 1994 right after the election. It was considered particularly vulnerable to the election's outcome given Trump's anti-trade and anti-immigration remarks during his campaign.
But the peso has defied expectations and is the best performing currency in the world so far this year. It has been helped in part by positive comments from US officials. Last week, Peter Navarro, Trump's trade adviser, told Bloomberg that the US and Mexico had the opportunity to "develop a mutually beneficial regional powerhouse" for workers and manufacturers.
US oil producers are undermining OPEC.
Natural gas prices have tumbled amid unseasonably warm weather, which implies weaker demand for heating. The US had its second-warmest February ever on record, according to the National Centers for Environmental Information.
Crude oil is also a big loser, likely to the dismay of the Organization of Petroleum Exporting Countries. Some OPEC members including agreed last November to reduce their output. However, shale oil producers continue to revamp their output after a slump. In any case, US antitrust laws prevent US-based companies from entering agreements that would regulate prices.
Business Insider
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