We see enough factors supporting gold to justify a modest allocation
in suitable portfolios.
International factors can help explain the relative resilience of longerterm
bonds from mid-February to the start of March.
Despite the modest size of the energy sector (typically less than 10% of
total market capitalization), crude oil and the broader stock market, as
measured by the S&P 500, have had very high correlation during the past
While the next FOMC
meeting isn’t until
mid-March, markets are
already trying to decipher
how the gap between
the Fed’s forecast of the
fed funds rate and the
will be resolved.
Municipal bonds have failed to keep pace with Treasury strength so far
in 2016, but performance has been robust.