Q2 ends with US equities leading all major asset classes. Cap-weighted indices finished the quarter near highs on expectations of a summer rate cut.
Growth leads value, and large leads small year to date. Technology is the clear winner among sectors thus far.
International equities up but were not able to make new highs along with US stocks. Global slowdown concerns continue.
Long maturity Treasuries and US High yield returns are running neck and neck. The quarter closed with T-bills yielding more than 10Yr Treasuries.
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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 99.7%
- Monetary 87.2%
- Valuation 99.3%
- Market Trend 9.8%