Oops, I’m a little late in writing this today. Stocks rose slightly last week, which put them far ahead of bonds. Fixed income retreated as interest rates rose. That leaves stocks with better momentum by comparison, but also with relatively good momentum. The summer was a relatively profitable period for stock investors (but it’s over here in Calgary, with our first snow!). September and October don’t look likely to be as problematic as they have sometimes been in the past.
Brazilian stocks still hold the lead in comparative momentum. They are followed by Chinese stocks, Canadian stocks and US large caps. I’m optimistic for the near future.