Yuck. The financial markets look ugly today. All major asset classes are down, with stocks and gold leading the way lower. US Treasuries and TIPs are also down.
My blog entry from last week about paying the piper is still on my mind today. The longer we meander sideways without a convincing move back to January’s highs, the more pessimistic I will become.
Whatever the future holds, our asset allocation remains the same for now, having adjusted to the volatility increase in January.