2025: Gains for Stocks, Bonds, Stellar Precious Metals (E244)

DoubleLine Portfolio Manager Eric Dhall and Fixed Income Allocation Strategist Ryan Kimmel review markets for the week ended Dec. 19 and close a year that saw gains across equities and fixed income as well as stellar precious metals. Stocks (0:52) registered a meager return for the week but gained nearly 18% YTD. In fixed income (3:11), Treasury yields fell across the curve on the week. The Bloomberg Aggregate has returned more than 7% YTD. Broad commodities (4:32) are up almost 15% for the year and flattish for the week. Silver and gold continued to surge to new all-time highs and platinum to its highest level since 2008. The week’s macro review (9:06) included somewhat weak labor market readings and a surprisingly weak consumer price index for November. Both reports, Eric and Ryan caution, should be taken with a grain of salt, given effects of the recent government shutdown and seasonality. With the holiday season, the Dec. 22-26 week ahead promises to be a quiet one for data releases. One of the few notable prints will be the updated estimate due Tuesday of 3Q2025 gross domestic product.