Tactical All Asset Model – Relative Strength Leadership Trends: Utilities, Fixed Income, Muni Bonds, Gold and Cash are showing the strongest relative price strength:
- 18% of our Tactical All Asset Strategy is positioned in Utilities (approximately 9% each to “XLU” and “VPU”).
- Overall, the portfolio is defensively positioned and growing increasingly more defensive. This past week, we further reduced equity exposure: our 9% REIT position traded into a bond 3-7 year Treasury bond ETF (“IEU”). Our 9% SPY positioning trading into the iShares Gold Trust “IAU”.