Returns for April across all major asset classes and styles showed negative returns. Commodity indices are the only stand-out for the year. This is not a US problem but a global problem.
The energy and consumer stables sectors show positive performance for 2022, but energy is just a proxy for the oil supply shock. Technology and consumer discretionary firms are the big losers.
Country equity indices are down across the board except Brazil. Two commodity focused country indices, Canada and Australia, are outperforming the other country indices.
There was no relief from holding fixed income although credit and short duration funds have weathered the inflation and rate storm better than long Treasury indices.
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