by Dan Zalipski, CFA
Unless Santa delivers a last-minute present, stocks are looking like a real lump of coal as we close out the year. Bonds are also struggling this year in the face of rising interest rates, with the Barclays Aggregate Bond index sitting on a loss at the time of this writing. We may be witnessing some history in the making as the S&P 500 and the Barclays Aggregate Bond index have never both posted negative returns in a calendar year. This highlights what an unusual year 2018 has been for the markets.