Index | May % | YTD % |
S&P 500 TR | -7.99 | -1.50 |
MSCI EAFE | -12.06 | -13.72 |
上海 Shanghai | -9.70 | -20.90 |
Fund | ||
1.12 | 8.83 | |
1.25 | 3.70 | |
2.95 | 0.97 | |
-3.49 | 3.06 | |
-2.96 | -2.80 | |
-0.39 | 4.59 | |
-3.53 | -0.79 | |
12.01 | -17.99 |
My decidedly bearish positioning for most of these portfolios paid off in May. We're off to a bearish start in June, but the only trend I'm confident about is the weak euro. A one-month drop in Chinese manufacturing is a single data point, not a trend, but manufacturing does lead the economy. If China's manufacturing is weaker, the rest of the global economy will follow.
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