The heads of our investment platforms welcome the New Year with their views for 2020.

We and all of our colleagues at Neuberger Berman wish our readers a happy and prosperous New Year.

Our regular CIO Weekly Perspectives will return next Monday. In the meantime, you can get a preview of our Asset Allocation Committee Outlook 1Q2020 here. The full Outlook will be available on Monday, January 13. You can also register to join a webinar on Tuesday, January 14, in which Erik Knutzen, CIO of Multi-Asset Class, and Gorky Urquieta, Co-Head of Emerging Markets Debt, will discuss:

  • The Asset Allocation Committee’s latest views on navigating the current market environment
  • Restoration of the growth differential between developed and emerging economies
  • Further rotation in equity markets out of defensive and growth stocks into pro-cyclical and value stocks, especially outside of the U.S.
  • Key risks the AAC is monitoring over the next 12 months

Tuesday, January 14, 2020 | 10:00 a.m. ET | 15:00 GMT

Register Now >

You may also want to check out the “Ten for 2020” themes that we set out in Solving for 2020. From rising political risk and the limits of monetary policy to bifurcation in credit markets and a comeback for value and cyclical equities, we talk through some of the dynamics that we believe will shape investment strategy over the next 12 months.

In Case You Missed It

  • S&P Case-Shiller Home Price Index: October home prices increased 0.1% month-over-month and increased 2.2% year-over-year (NSA); +0.4% month-over-month (SA)
  • U.S. Consumer Confidence: -0.3 to 126.5 in December
  • China Purchasing Managers' Index: -0.3 to 51.5 in December
  • ISM Manufacturing Index: -0.9 to 47.2 in December

What to Watch For

  • Tuesday, January 7:
    • ISM Non-Manufacturing Index
    • Euro Zone Consumer Price Index
  • Wednesday, January 8:
    • China Consumer Price Index
  • Friday, January 10:
    • U.S. Employment Report

– Andrew White, Investment Strategy Group

Statistics on the Current State of the Market – as of January 3, 2020

Market Index WTD MTD YTD
Equity      
S&P 500 Index -0.1% 0.1% 0.1%
Russell 1000 Index -0.1% 0.2% 0.2%
Russell 1000 Growth Index 0.2% 0.7% 0.7%
Russell 1000 Value Index -0.4% -0.3% -0.3%
Russell 2000 Index -0.4% -0.4% -0.4%
MSCI World Index 0.0% 0.2% 0.2%
MSCI EAFE Index 0.0% 0.3% 0.3%
MSCI Emerging Markets Index 0.5% 0.8% 0.8%
STOXX Europe 600 -0.3% 0.1% 0.1%
FTSE 100 Index -0.3% 1.1% 1.1%
TOPIX -0.7% 0.0% 0.0%
CSI 300 Index 3.1% 1.2% 1.2%
Fixed Income & Currency      
Citigroup 2-Year Treasury Index 0.2% 0.1% 0.1%
Citigroup 10-Year Treasury Index 0.8% 1.1% 1.1%
Bloomberg Barclays Municipal Bond Index 0.4% 0.4% 0.4%
Bloomberg Barclays US Aggregate Bond Index 0.4% 0.5% 0.5%
Bloomberg Barclays Global Aggregate Index 0.5% 0.3% 0.3%
S&P/LSTA U.S. Leveraged Loan 100 Index 0.2% 0.1% 0.1%
ICE BofAML U.S. High Yield Index 0.2% 0.2% 0.2%
ICE BofAML Global High Yield Index 0.3% 0.1% 0.1%
JP Morgan EMBI Global Diversified Index 0.2% 0.2% 0.2%
JP Morgan GBI-EM Global Diversified Index 0.3% -0.2% -0.2%
U.S. Dollar per British Pounds -0.1% -1.3% -1.3%
U.S. Dollar per Euro 0.0% -0.5% -0.5%
U.S. Dollar per Japanese Yen 1.4% 0.6% 0.6%
Real & Alternative Assets      
Alerian MLP Index 1.3% 2.0% 2.0%
FTSE EPRA/NAREIT North America Index 0.4% -0.6% -0.6%
FTSE EPRA/NAREIT Global Index 0.6% -0.1% -0.1%
Bloomberg Commodity Index 0.0% 0.6% 0.6%
Gold (NYM $/ozt) Continuous Future 2.3% 1.9% 1.9%
Crude Oil (NYM $/bbl) Continuous Future 2.2% 3.3% 3.3%

Source: FactSet, Neuberger Berman.