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World Wrap

World Wrap

– Commodities rallied, while Global stocks and bonds declined.
– In a down week, 5 of 11 sectors managed to advance, led by a 3.8% advance in Energy stocks.
– Emerging markets were flat, buoyed by a 3.3% move higher in China.
– Both Crude oil and 2Yr Treasury yields climbed to higher highs last week, in a clear sign that inflation concerns are coming to the forefront again.

World Wrap

World Wrap

– US Equities and Commodities declined, while International stocks and US Treasuries rallied.
– Mid-cap stocks outperformed as did interest rate sensitive sectors. Utilities performed better than all sectors, styles, and factors.
– Fairly broad rally internationally, with nearly 3 of 4 countries participating. China was an exception, declining more than US stocks.
– Both Gold and Bitcoin made new all-time highs in the same week.

World Wrap

World Wrap

– All major asset classes saw higher prices, but commodities were the biggest winner.
– Classic risk-on week when it came to sectors – with Healthcare, Staples, and Utlities declining while all other sectors advanced.
– Developed markets kept international equity indices in the green, as more than 60% of countries declined during the week.
– A barrel of Crude Oil crossed back above $80 for the first time since November. Oil prices are up more than 12% ytd.

World Wrap

World Wrap

– Nice gains for global equities, modest gains for Global Fixed Income, and losses for Commodities last week.
– All sectors and factors advanced, but small cap stocks struggled. Every small cap style box declined.
– 34 of 45 countries that we follow advanced. China’s equity market has had strong performance two weeks in a row.
– REITs are struggling across the board. They lagged this week despite a rally in bonds. They are the worst performing key asset class year-to-date.

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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% 99.7%
  • Monetary 87.2% 87.2%
  • Valuation 99.3% 99.3%
  • Market Trend 9.8% 9.8%