– After one of their longest stretches of secular underperformance, commodities are off to their strongest year since 2008, leading all asset classes.
– Value stocks continue to hold a strong performance advantage at the end of the first half of 2021.
– Developed markets hold a slight edge over emerging. China, up less than 2% ytd, has weighed on emerging market performance.
– In a matter of weeks, lumber has gone from the best performing commodity to one of the worst. Lumber closed the quarter down 55% from its May all-time-high.
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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%