Research
World Wrap
– Global equities snapped back with a rebound rally, while prices on US Treasuries fell.
– Tech and Large Cap Growth had strong performance. It’s still a narrow bull – the S&P 500 is outperforming all but 2 of 9 style boxes.
– Impressive move out of Asia – China and Hong Kong were up 8.2 and 9.5% for the week.
– Yields on the US 10Yr Treasury climbed as high as 4.7%, levels not seen since last November.
Market Outlook – M2 Growth Turns Positive
World Wrap
– All major asset classes fell with US Equities and Real Estate again being the worst performers.
– Financials, Staples, and Utilities climbed. Meanwhile, the Tech’s behavior as a safe-haven the week prior proved short lived. The Tech sector slid more than 7%.
– Thirty-nine of the 45 countries we track declined. The Asia region was hardest hit.
– Gold climbed, and Copper surged to a 52 week high. Global Fixed Income and Bitcoin struggled.
Market Outlook – Oversold Stock Market is not much of a concern to investors.
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Market Risk Index
Market Risk Index scales from 0 to 100%. Higher readings correspond with higher risk markets. Scores below 25% are bullish. Scores between 25-75% are neutral, and scores above 75% are markets vulnerable to major drawdowns.
Model Category Readings (Percentiles)
- Psychology 97.9%
- Monetary 32.2%
- Valuation 98.9%
- Trend 38.1%