(Bloomberg) Investors nursing some of the worst losses in a century shouldn’t live in hope for a relief rally next year — markets will merely tread water, according to the prognosis of a $43 billion fund. Tighter financial conditions, a U.S. economy in the late winter of its expansion and cracks in credit markets will flatten cross-asset returns even as global economy stays on an even keel, according to Fidelity International.
Fidelity Preps for a Zero-Return Market in 2019
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