"We penetrated deeper and deeper into the Heart of Darkness"
- Joseph Conrad, Heart of Darkness
At the beginning of 2020 I said that the New Year would be nothing like the last year. Things are playing out as predicted, with Coronavirus thrown in for good measure, and with devastating consequences.
Index Price (Year-to-Date)
DJIA -25.58%
S&P 500 -21.72%
NASDAQ -18.25%
Euro Stoxx 50 -35.50%
Dax -35.91%
Nikkei -29.29%
*Data according to Bloomberg
In "bond land" things are equally treacherous. While the U.S. Treasury Government Index is up 5.99%, year-to-date, the "Absolute Yield" here is