Hey, surely does not mean a thing, but sectors that stand out more and together than previously, through this market run.
The "bold" sectors versus these other broad areas. Probably only some money off the table traveling to these sectors. One doesn't find large affirmation in investment grade bonds indicating anything out of the norm.
Have a pleasant remainder.
Sector summary
Energy -0.37%
Basic Materials -0.91%
Industrials -0.03%
Cyclical Cons. Goods ... -0.09%
Non-Cyclical Cons. Goods... +0.80%
Financials -0.55%
Healthcare +0.69%
Technology -0.45%
Telecommunications Servi... +0.27%
Utilities +0.32%
Comments
The equity closings are close to what was posted at 11am above having held through the day.
The below are the closings for the IG bond area on May 31. The yield trend continues downward for IG bonds having a short term peak (higher yield) within the past few weeks. The spread has remained at about .6% between the 10 and 30 year for about 1 year (I'd have to check regarding this recall).
As to a personal view, since the market melt; that this time is different, does remain in place for our house's view of attempting to be positioned into the markets for our "comfort" factor. One remaining factor that is and will be in place, barring a very disruptive event, is there remains very large sums of monies traveling the investment sectors. This money continues to travel into value areas. I don't mean value in a traditional meaning, so much; but value as in the cheapest sector(s) available at the time that do not show overwhelming evidence of being a "value trap" (a sector being inexpensive for good reason). The simple view = sector rotation; be it from humans or algo's or some combination.
We have been and remain 65/35 equity to IG bonds. About 35% of the equity is healthcare related and 95% of the bonds are corporate/government.
ADDED: the below data is from Google Finance. One does not need an account (although we have one to view more data) to view the page via this link. As you scroll down the page you will see the sectors Google uses. Aside from the green/red bars for % up and down, you may also click upon the sector name to look inside the sector for stocks within that sector and their gain or loss. Global markets, currencies and yields are shown along the right side edge.
https://www.google.com/finance
Okay, have to git for a busy day; but will attempt to view the equity and bond sectors for follow through for a longer time frame.
Regards,
Catch
LQD +0.12%
IEF +0.05%
EDV +0.52%
3 Month 0.91% 0.00 (0.00%)
6 Month 0.97% 0.00 (0.00%)
2 Year 1.28% -0.01 (-0.78%)
5 Year 1.75% -0.02 (-1.13%)
10 Year 2.21% -0.02 (-0.90%)
30 Year 2.86% -0.03 (-1.04%)