The latest issue of the Iacono Research Weekend Update has been posted to the website and is now available for subscribers here. The executive summary is as follows:
Amid good (but not quite as good as expected) economic data for both the U.S. labor market and manufacturing sector, asset prices were little changed with the notable exception of some U.S. technology stocks that saw a second straight week of heavy selling. Emerging market shares rose and are now besting their U.S. counterparts so far this year and REITs continued to outperform most other asset classes while fixed income investments saw modest gains.
The trade-weighted dollar fell and this helped the natural resource sector where both gold and silver rose for only the second time in the last six weeks and mining stocked rebounded from what was clearly a bad month in March. For the week, the model portfolio rose 0.5 percent and is now up 4.5 percent for the year.