Stocks are basically unchanged over the prior week, whereas bonds rose in value (and dropped in yield). Since bonds already had better momentum than stocks last week, that trend has continued. The outlook for bonds is better than for stocks at this moment. In my own portfolio, I can see that my small cap stocks are affected to a greater extent than large cap stocks. This seems to be a common symptom of a lack of confidence in the stock market.
Regarding asset classes, Hong Kong stocks still appear to present the best opportunity at the moment. In Canadian market indexes, European Stocks (XIN) have the best outlook, followed closely by emerging markets (XEM). The stock market remains overvalued (based on my fair market estimate), but volatility continues to be low, so there seems little likelihood of a sudden correction.