– US and International equities declined with US equities faring notably worse. Treasuries offered only a modest safe-haven.
– No sectors or factors advanced. Value is having a good year except in the Large Caps, where Growth is still king. Large growth is close to leading all styles yet again.
– A 1% advance by China helped Emerging markets outperform US equities, but China is still down more than 10% year-to-date.
– Natural gas prices climbed 4.7% and are up more than 85% year to date.
– Monetary conditions improve again, but PPI inflation prevents a bullish setup.
– Record euphoria in our Levered ETF Sentiment indicator.
– Revisiting Dow 36,000
– Fed Governors of Grift
– Everybody’s a winner! All the major asset classes finished in positive territory for the week.
– Five of nine sectors advanced. Energy and Financials struggled, while Healthcare and Staples outperformed.
– Emerging markets had a solid week, advancing 3.4%, as China bounced 4.3%.
– Lumber bounced more than 15%. As severe a thrashing that lumber has seen since May, prices are still up nearly 50% over the last year.
– Monetary conditions improve modestly, but inflation is a headwind.
– New records in leveraged stock market bets.
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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)
