Slowing economic growth, reducing balance sheets of central banks and continuing spike in volatility will make 2019 a hard year for high-risk assets, Bloomberg writes with reference to Goldman Sachs Group Inc.

While recent decline in valuations of assets in all classes improved midterm outlook for investments, macroeconomic fundamentals will stay very weak in 2019, experts in Goldman assume. It will restrict potential for returns.

It shall be noted that current year was very difficult for financial markets, which suffered from monetary policy normalization, tariffs growth, global trade conflicts, slower development of Chinese economy and possibility that corporate earnings peaked. Bonds did not perform well as equity hedges.

From their side, experts of Goldman still recommend to hold most part of money in stocks increasing however holdings of cash and reducing investments into bonds.

As of commodities, Goldman still is optimistic and expects serious oil price growth in short-term. The company also prefers gold, expecting weakening of US dollar.