Q1 2019 – Annandale Capital Quarterly Commentary
2019 is off to a great start. Global equity markets finished the first quarter up an astounding 12.2%. Domestic stocks are once again leading the pack, having returned 13.7%, their best start in almost 20 years. Bonds, of all varieties, are also participating in the rally. US investment-grade bonds have returned 2.9%, and riskier forms of debt, like highyield bonds, have climbed 7.4%.