“Commodities continue to be a successful diversifier, providing competitive returns and a negative correlation. They are in a sweet spot on the efficient frontier...”
“With bonds providing a port in the storm for now, it’s a reminder that bonds have become a viable asset class again ... at least we are getting paid to take the risk (via high real yields).”
“Earnings season is off to a good start with 122 companies reporting so far and 80% beating estimates by an average 560 bps. Trailing earnings are up 33% from a year ago and the n12m estimate is up 39%...”