This has been a year like no other. Hammered by an unprecedented health crisis, global stocks tumbled into a bear market at record speed, and then rallied to new highs thanks to a flood of central bank money. Bond yields tanked to uncharted lows and the world’s reserve currency surged to all-time highs, only to then retreat to its weakest level in more than two years as 2020 draws to a close. Global asset allocators from BlackRock Inc to JPMorgan Asset Management have outlined their takeaways for investors from the volatile year. Here are some of their reflections: Rethink bonds’ role in portfolios: The massive stimulus doled out by global policy makers when markets seized up in March led t
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