From the desk of Steve Strazza @Sstrazza
For the week ended Friday, June 5, 2020:
Every weekend we publish performance tables for a variety of different asset classes and categories along with commentary on each.
This was a big week for market bulls as a myriad of consolidations resolved to the upside while the powerhouse Nasdaq 100 $QQQ finally became the first major index to reclaim its all-time highs. The only assets to post negative returns this week were the usual “safe-havens” such as Treasuries, Yen, and Precious Metals. Everything else was green. How’s that for improving risk-appetite?
In this post, we’ll highlight that this broadening participation and flight towards risk-assets is more than just a one-week phenomenon. We’ve seen this type of price behavior in some asset classes for over a month now.