Commentary
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Markets Take a “Black Swan” Dive
To say the current market environment is challenging is an understatement. The sudden and vicious nature of the decline since the S&P 500 peaked at an all-time high of 3,386.15 on February 19 has been historically unprecedented in some ways.
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Market Climbs a Wall of Worry Despite One Crisis after Another
Few investors have had the intestinal fortitude to remain resolutely invested throughout the numerous crises (and associated temporary market dips) that have marked the long-term bull market that began in 2009. This time it’s the threat of a coronavirus pandemic emanating from China which has quickly spread across the globe.
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High-Yield Bonds End the Year on a Strong Note
2019 marked the 28th year of performance history for Kensington’s flagship Managed Income Strategy. To the surprise of most observers, high-yield bonds turned in a very respectable performance for the year.
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The Bull Market Continues to Break Records
The bear market that ended in March of 2009 was one of the worst in history. Now, over 10 years later, it’s being followed by the longest bull market in history. To put it another way, it’s the longest stretch without a 20% correction since 1900, as illustrated by the chart below.
