Happy Canada Day!

The stock market had a relatively good week, for a change. Bond yields rose, causing bond prices (and bond funds) to fall. But what is even more interesting is gold’s surprising tumble. I’m not sure what happened (and I don’t really care enough to find out), but it has fallen by almost 10% over the past two weeks. Similarly, Brazil stocks and Chinese stocks have fallen heavily. I wouldn’t touch them at this point.

US stocks (IWM and SPY) continue to show positive momentum. They have held up surprisingly well over the past couple weeks. Personally, since I sold my ETF a couple weeks ago and bought Magna (MG), I plan to stick with the stock, since it’s doing even better than the US ETF. Plus, I can avoid the costs of currency exchange.

 

Market Outlook July 1, 2013

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