The latest issue of the Iacono Research Weekend Update has been posted to the website and is now available for subscribers here. There will be no changes to the buy ratings but three changes to the model portfolio as the latter subject along with last week’s Fed meeting are addressed in the following discussion topics:
The executive summary is as follows:
More violence in Iraq, signs of rising inflation, and dovish words from the Federal Reserve combined to send the price of nearly all risk assets higher, but the natural resource sector benefited more than others. Broad equity markets notched more record highs, the bond market was little changed, and the dollar moved lower as the central bank seemingly gave the go-ahead for traders to bid prices higher for everything.
Energy prices rose for the fifth time in the last six weeks but precious metals saw even bigger gains while related shares for both commodities moved sharply higher. Gold and silver mining stocks appear to have resumed the rapid ascent that started in the beginning of the year and this was a key factor in the model portfolio jumping 2.1 percent, now up 8.3 percent for the year.