Research

World Wrap

World Wrap

by | Apr 9, 2023 | ,

– Stocks were flat, while Commodities and Treasuries rallied.
– The market advance in 2023 isn’t a broad one – it’s Large Growth and Tech move. Four of six factors are down year-to-date.
– The yield curve inverted further matching levels only seen in 1973-74 and 1979-81.
– Oil prices rallied 6.7% on the announcement of a Saudi-led cut in oil production

Q1 2023 World Wrap

Q1 2023 World Wrap

by | Apr 2, 2023 | ,

– Global Equities and Treasuries finished with a solid first quarter, while Commodities declined.
– Returns among sectors and factors were mixed, with the strongest sectors and styles being a throwback to the euphoric period from 2021.
– Strength in Developed European markets outperformed and buoyed both international and global equity indices.
– The yield curve (10Y-90D) ended the quarter with the most extreme inversion since 1981.

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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 97.5% 97.5%
  • Monetary 55.3% 55.3%
  • Valuation 100% 100%
  • Trend 34.9% 34.9%