**YTD: Year to Date
These portfolios have done well because of the recent strength in US stocks. As stated elsewhere, we believe in the coming several years, among other stock markets, US stocks might be the best or the least dirty. Our SAA – Optimal portfolios are positioned based on this secular outlook.
As it turned out, the Italian election scare didn’t sway much in the risk asset (stock) markets. US stocks are bounced back amid the continuous weakness of emerging market stocks since the beginning of this year. Long term Treasury bonds stabilized but now are ranked below cash in the major asset trend ranking table on Asset Trends & Correlations or more detailed ones on 360° Market Overview for more details.
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