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 model portfolio or the buy ratings this week, but the ongoing covered call sales are reviewed in the following discussion topic:
The executive summary is as follows:
As second quarter earnings season gets underway, a sharp sell-off for equity markets early in the week was partially reversed on Wednesday after the release of meeting minutes from the Federal Reserve’s June gathering. Fresh banking fears in Europe led to renewed risk aversion and the broad stock market ended the week lower as safe haven assets such as bonds and precious metals gained.
Prices for both energy products and agricultural goods tumbled, falling for the third week in a row, and related shares were bid sharply lower as well, but precious metals prices rose for the sixth straight week with mining stocks seeing more outsized gains. REITs moved higher and long-term Treasuries surged as the model portfolio rose 0.7 percent, now up 10.0 percent for the year.