Tomorrow my son has a swim meet so I am doing some weekend work tonight and thought I would share some numbers from my weekly spreadsheet that tracks bonds, stock indexes, commodities, currencies, foreign equity indexes and U.S. Sector indexes.
This quarter coming into the election (October-November) had spared no asset class. Everything was lower mentioned above. Now eight days after President Elect Trump was declared the winner a few things are even clearer.
Bonds continue to struggle whether it be treasuries, corporates or high yield. For the quarter, treasuries are lower by -12.12% on the 20 year. Stay away.
Stocks have come back to life. The only equity index lower is the NASDAQ 100, thanks to FANG stocks (Facebook, Apple/Amazon, Netflix and Google).The best performer for the quarter and year to date is the Russell 2000 up 5.11% for the quarter and 15.82%.
The time to own stocks is upon us. Looks like Merrill Lynch clients who raised cash, thanks to such account busting research from Savita Subramanian, to the highest level since 9/11 are not enjoying the move and surely will be buying the dip.
Commodities continue to trade lower this quarter with the exception of Corn and Soybean. Year to date Silver and Gold remain solid performers up 19.26% and 13.49%. GLD at $115 is getting a bit overdone and a bounce could be in order next week if that level holds. A great play on GLD would be straddle.
Currencies are weak across the board as “King Dollar” is up 6.12% for the quarter.
As a result of the currency moves, all international markets are getting torched. Note Russia is the exception up 0.11% and still up year to date by 28.19%. In one of my option newsletters, I recommended the EEM December $34.50 Call that could work on a bounce back up to $37.
Last in looking at the following sector ETFs are lower for the quarter and are sort from worst to down 0%, IYR PPH XLU XLP XLV XLK RTH. Strength is found in Financial ETFs like KRE and XLF followed the Transportation ETF IYT and Industrials ETF XLI.
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