Asset Allocation Reports
Asset Allocation Weekly (August 28, 2020)
by Asset Allocation Committee | PDF As people think about the supplemental federal unemployment benefit of $600 per week that was in place through July, most would assume that if the total benefits exceed a person’s actual wages, they will choose to be unemployed instead of accepting employment. Anecdotal reports suggest that companies are running… Read More »
Asset Allocation Weekly (August 21, 2020)
by Asset Allocation Committee | PDF One of the relationships we monitor is retail money market levels (RMMKs). In theory, any available liquidity could conceivably end up purchasing equities. But, RMMKs are used by investors in their brokerage accounts and thus are probably “closer” to equities compared to other forms of “near money,” such as… Read More »
Asset Allocation Weekly (August 14, 2020)
by Asset Allocation Committee | PDF Precious metals prices have risen recently, making new highs. This is a monthly chart for the nearest gold futures contract. As the chart shows, we have recently moved above the 2011 highs. In this report, we will discuss two areas that have supported this rise—the prevalence of negative real… Read More »
Asset Allocation Weekly (August 7, 2020)
by Asset Allocation Committee | PDF Investors often fall into the habit of sloppy thinking about government spending and its relation to the economy. For example, it’s easy to focus only on total government-sector expenditures. According to the White House Office for Management and Budget, total government outlays in the U.S. averaged 32.3% of nominal… Read More »