In June U.S. stocks, as measured by the S&P 500 Total Return index, crossed below their 10-month moving average, so that asset class was sold out yesterday. No changes in the other asset classes. U.S. Treasuries are showing some strength. REITs not so much, but remain above their 10-month average.
Here are July's allocations:- US Treasuries (10 year): 20%
- REITs: 20%
- Cash: 60%
