360 Degree Markets View

This is a 2-month, 6-month and 12-month view of three sets of ten ETFs. The first set is multi-class. The second set is of developed country or region funds. The third set is of emerging country or region funds.

Bonds have been reasonably good investments. The dollar has been strong, but volatile. Oil and copper are showing a seeming dish bottom formation. Gold is up, but erratic. Developed markets are down and trying to flatten out. Emerging markets are also down and slightly ahead of developed markets in their attempt to flatten out.

We are not out of the woods for equities. Portfolio equity allocations should be light, or held aside in cash (for reasons discussed in prior articles — read most recent article).

Portfolio bond allocations should be fully invested, but light on lower grades. Future problems will arise with Treasuries which are overpriced for the long-term. TIPs, not shown, will outperform ordinary Treasuries when rates begin to rise as the business environment improves, and inflation develops.

Yesterday was an important negative day for equities, commodities and real estate, as major news about (1) General Motors (GM), (2) the likely need to supply large amounts of additional capital to banks, and (3) the likely refusal of Europe to take further stimulative actions. Quality bonds rose for the day.

click to enlarge images

MULTIPLE CLASSES

Two-Month Charts

Six-Month Charts

Twelve-Month Charts

DEVELOPED MARKETS COUNTRIES

Two-Month Charts

Six-Month Charts

Twelve-Month Charts

EMERGING MARKETS COUNTRIES

Two-Month Charts

Six-Month Charts

Twelve-Month Charts

Securities or indexes in the charts are:

Multi-Class: AGG, MUB, LQD, UUP, VT, VNQ, $WTIC (oil index, proxy USO), $Copper (copper index), $GOLD (gold index, proxy GLD).

Developed Markets: SPY, EWJ, VGK, EPP, EWC, EWA, EWS, EWU, EWQ, EWP.

Emerging Markets: FXI, EWZ, EWY, EWT, EWH, INP, EZA, EWW, ISL, EWM, ECH.

Comments

[granger:]

Great info as always, thank you again for your articles.

Apr 01 05:13 AM