The Dynamic Allocation Strategy equity weighting remains above benchmark.

Two-thirds of the top-level indicators favor equities over fixed income.

U.S. Large-Caps, U.S. Value, and U.S. Small-Caps received the highest allocations. Click the link below to read more about the strategy’s positioning.

Full strategy commentary: NDRDAS202408021

Other posts

Thoughts From The Divide: Natural Disasters?

BY JON WEBB
One might have expected yesterday’s CPI data to be of significance for asset prices. As it happened the figures were interesting, with the inflation data surprising to the high side: marginally, but still a miss, while core CPI actually increased for the 2nd month. Hardly proof of resurgent inflation but notable in the context of a series which has been trending lower since Sep 2022. But asset prices didn’t seem to notice the miss. Perhaps that’s because policymakers hardly noticed it either. The quote above came from the NY Fed Williams yesterday, and seems to be representative of policymakers’ focus shifting from inflation to the labor market. So perhaps markets took that cue and paid more attention to the rather striking weekly claims figure (258k). Read more →

Thoughts From the Divide: Pandora’s Box

BY JON WEBB
While the Whitehouse may have successfully avoided putting its foot in its mouth on inflation this year (We hope everyone stateside had a good Independence day), the topic remains at top of mind for more than just the bean counters, as policymakers and consumers alike grapple with a new version of Whitney Houston’s question, “How will I know if inflation is over?”. The last few weeks haven’t offered very clear guidance. CPI was cooler than expected, but PPI was above expectations. Both the ISM Manufacturing and Services reports saw strong price readings, but there were other signs of a retreat in demand. Read more →

NDR Dynamic Allocation Strategy December 2023 Update

BY BRIAN SANBORN
Dynamic Allocation Strategy, indicators, weightings update Read more →
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