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Barring a sharp December rebound, 2018 will go down as the year in which nearly everything declined. A ‘synchronized global slump’ has dragged down stocks, bonds, gold and crude oil, inflicting year-to-date losses on an unprecedented proportion of assets around the world. Of the dozens of asset classes across various kinds of securities and commodities in developed and emerging markets, 90% of them are down on the year, according to Deutsche Bank. In more than a century of market data, never has a calendar year seen so many assets post negative returns. That global downdraft has weighed on Canadian markets as well. The S&P/TSX Composite Index has dropped 7% this year, while the rise in interest rates means both government and corporate bonds have seen moderate price declines. (more…)