In this issue:
- Stocks rise as Treasury yields tick higher
- Is the tide finally turning in favor of global asset allocation?
Programming note: Starting with this issue, ETF-PS will separate reporting on our portfolio strategy benchmarks from the proprietary strategies, which will be updated in an upcoming issue.
Equities rally as the reflation trade starts to pinch bonds: US equities rose for a second week, based on Vanguard Total US Stock Market (VTI). The fund gained 1.7% at Friday’s close (Feb. 12), marking the first back-to-back weekly gain this year and propelling VTI to a new record high.