– Commodities and US Equities led the way this week, as global financial assets rallied in unison for a second straight week.
– The rising tide lifted all boats in the last week of July – the stock market rally among styles, sectors and factors was broad.
– China was a notable exception to the global rally in equities, closing down 3.7% for the week.
– Another round of rate hikes for the Fed in September has the potential to take the Fed Funds rate above the 10Yr Treasury yield.
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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%