Asset Trends Review
The fast and furious market actions in the past three months have left many stunned and confused. As this moment, major US stock indexes have recovered most of their losses. Nasdaq 100 index even has a positive year to date return. On the other hand, economic news are all dire: 33 millions of American have made unemployment, U.S. GDP contraced 4.8% in the first quarter. There seems to be some major disconnect here. It’s thus a good time to overview major asset trends.
Risk asset trends are still down
The following table shows major asset trend scores (as of 5/8/2020):
|Mortgage Back Bonds||MBB||3.22%|
|Total US Bonds||BND||2.84%|
|US Credit Bonds||IGIB||0.5%|
|International Treasury Bonds||BWX||-0.37%|
|US High Yield Bonds||JNK||-4.0%|
|Emerging Market Stks||VWO||-5.72%|
|Emerging Mkt Bonds||PCY||-6.39%|
|International Developed Stks||VEA||-7.28%|
|US Equity REITs||VNQ||-10.13%|
So all major risk assets including US stocks, Emerging market stocks and international developed stocks, REITs, high yield bonds and commodities all still have negative trend scores. We are far from being out of wood.
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