The bond market looks like a runaway train right now, as more investors clamber aboard to escape the perceived economic boogeyman.
Despite all your best worries, the S&P 500 is about to close out a rock-solid quarter, with a near 12% return set to mark the best three-month performance since March 2012. Still, they say this equity cheerleading is tough, with the S&P 500 only 4.4% off its September record high. “The asset allocation call would be much easier if equity markets were trading as pessimistically as bond markets seem to be doing. Instead, equities appear to be fairly valued from a fundamental perspective,” said Barclays.
The dollar DXY, +0.19% is off versus the yen USDJPY, -0.13% as jittery investors seek havens. The pound GBPUSD, -0.5534% is down after another Brexit stalemate. Gold US:GCU8 is lower, as well as crude US:CLU8
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