A balanced portfolio may be boring but stick around and I’ll tell you why sometimes boring is best.
Before we get started if you’re not already signed up for our quarterly market review call this Thursday, April 15th please go to assetstrategy.com/events to sign up.
Bruce Hardy, Director of Private Asset Management joins me as we look back on Q1 and also discuss our base case for the months ahead.
Entering the year, the popular trade was value, the reopening trade, and rising interest rates. The markets then went through the rotation of pain that we discussed in our March 29th Weekly Market Minute video. We then witnessed Utilities and Consumer Staples leading the market in March despite the upbeat economic forecast. Now in April, and it’s 2020 all over again with growth, technology, communication services, and consumer discretionary leading the market. For bonds, the 10-year Treasury yield is well off its highs despite mostly everyone calling for a continued move higher in interest rates. The point being sometimes the best thing to be is boring with a balanced diversified portfolio.
For the week ahead we get a little bit of everything this week from inflation data to small business optimism to retail sales and housing data. Keep in mind that year-over-year numbers are going against the worst of the Covid related lockdowns of 2020 so data may look hot – the question really is how do these numbers look as the months go by?
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