Review & Outlook
Fourth Quarter 2019
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:
- Monetary policy (central banks) became very accommodative, with the Fed cutting 3 times.
- Fiscal policy remained robust, with Washington implementing spending hikes out of the summer debt-ceiling negotiations and late-year budget agreement.
- 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.
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