Review & Outlook

Fourth Quarter 2019

Executive Summary

January 2, 2020

John Augustine, CFA, Chief Investment Officer

2020—Follow Through, Regain and Rebuild

2019 was an exceptional year for investors. There were double-digit returns in three asset groups, and by way of reference, the average balanced mutual fund returned 19.20% according to our friends at Morningstar, and that is the best return since coming out of the Great Recession in 2009.

In our view, there were several circumstances that developed in 2019 that allowed investment markets to recover from a very dour 2018:

  1.  Monetary policy (central banks) became very accommodative, with the Fed cutting 3 times.
  2.  Fiscal policy remained robust, with Washington implementing spending hikes out of the summer debt-ceiling negotiations and late-year budget agreement.
  3.  Trade policy took a more optimistic tone late in the year with the announcement of a Phase 1 U.S./China trade deal.

These developments allowed stocks, bonds, and real asset groups to move nicely higher.

Read full report (pdf)

Huntington Private Bank® is a team of professionals dedicated to delivering a full range of wealth and financial services. The team is comprised of Private Bankers, who offer premium banking solutions, Wealth and Investments Management professionals, who provide, among other services, trust and estate administration and portfolio management from The Huntington National Bank, and licensed investment representatives of The Huntington Investment Company, who offers securities and investment advisory services. Huntington Private Bank® is a federally registered service mark of Huntington Bancshares Incorporated.

Huntington Investment Company, a registered broker dealer, member FINRA/SIPC, and a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). The Huntington Investment Company is a wholly-owned subsidiary of Huntington Bancshares Incorporated.

Insurance products are offered by Huntington Insurance, a subsidiary of Huntington Bancshares Incorporated and underwritten by third party insurance carriers not affiliate with Huntington Insurance.

Trust and investment management services are provided by The Huntington National Bank, a national bank with fiduciary powers. The Huntington National Bank is a wholly-owned subsidiary of Huntington Bancshares Incorporated.

Investment, Insurance and Trust products are: NOT A DEPOSIT • NOT FDIC INSURED • NOT GUARANTEED BY THE BANK • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • MAY LOSE VALUE


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