There's Nowhere To Hide This Year But US Stocks

Even as U.S. stocks flirt with records, investors are staring at a cross-asset landscape that hasn't been painted with this much red since the depths of the financial crisis. The dollar's upswing, brewing price pressures and cracks in the synchronized growth story have pushed asset returns into negative territory across much of the world. This year is on track to deliver the lowest share of positive returns adjusted for inflation across 17 major asset classes since 2008, according to Morgan Stanley.