After the prior week’s volatility, some calmness returned to the markets as renewed upward momentum helped the S&P 500 to gain some 1.6% since the last ETF Model Portfolio report.
Bonds are still showing weakness as interest rates have been inching higher, but equities have largely ignored that fact. More in regards to market direction should be known later on today when the Fed concludes its two-day meeting on interest rates.
The outcome and language used in regards to possibly slowing down monetary policy may have a profound impact on the markets. As I posted before, bond ETFs and the metals have been the losers YTD while equities have been on a tear.
Here’s the latest ETF Model Portfolio update: