Recent Asset Allocation Changes 2020-08-04
We see a fairly sizable drop in equities with most of that weight going into commodities like NatGas. Within equities, the shifts have favored winning countries/regions like USLargeCap and EmergingMarketsEquity. The Tips reallocation from 10Yr Treasuries suggests a repositioning for inflation. Gold continues to skyrocket but the metrics surrounding that growing bubble do not warrant an exit from the long position. Gold is one of the assets evaluated using ECO, our bubble identification technology here.