Columbia Threadneedle: Middling growth, markets unnerved

January 16, 2019

By Maya Bhandari, Portfolio Manager Multi Asset

2018 has delivered reasonable economic and solid pre- and post-tax earnings growth across most geographies. Yet volatility-adjusted returns for investors across asset markets have been negative, and in many cases the worst since the Great Financial Crisis struck just over a decade ago (Figure 1). Global stocks are poised for a Sharpe return of -0.4, the poorest since 2008