– US equities were up on a rebound in big Tech stocks. REITs also had a very strong rebound, climbing more than 4%.
– The momentum trade was back on in the last week of July, as big Tech left all other sectors in the dust, driving the growth factor to outperformance as well.
– Momentum was on for countries last week too, with the year’s best performers all outperforming last week, when the average country declined.
– Q2 GDP released last week showed a year over year decline in real GDP of 9.5%. Meanwhile, the dollar continued its sharp decline.
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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%