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World Wrap
– Commodities climbed, rather oil prices climbed, while global equities and fixed income declined.
– Utilities and Energy stocks were a safe haven in a down week – the only two sectors with gains. Small Cap Value stocks declined 4.7%
– Emerging Europe and Latin America were particularly hard hit in last week’s global equity decline.
– Oil prices climbed above $87.50 a barrel for the first time since November 2022.
Market Outlook – Psychology moves out of the worst decile of readings
World Wrap
– Global financial assets rallied broadly during the last week of August.
– Only Utilities, Staples, and Healthcare didn’t participate in the stock market advance, the traditional risk-off sectors.
– Strength in Asian stocks, including China and Japan, drove international indices higher.
– Crude oil climbed nearly 7% to more than $85 per barrel, the highest price since November last year.
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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%