The stock market barely moved over the past week, while bonds produced some positive growth. That is a little surprising, seeing as interest rates are unchanged from a week ago. But as a result, stocks and bonds have roughly equivalent momentum.
What I’ve noticed in my portfolios is that large caps have done okay, but small caps have still not recovered from the market correction, and continue to have reduced prices. If anyone is shopping for sales, look at Canadian small cap stocks.
Amongst the asset classes / markets that I compare, US small caps (IWM) and US large caps (SPY) continue to lead. Canada continues to trail and Brazil is a basket-case.