Market insight and a highlight of Cabana’s year-to-date performance:
Cabana’s seven portfolios range from “Conservative” to “Aggressive” and include an income strategy and an “Accumulator” portfolio. Performance is as of market close on June 4, 2018 and is presented net of maximum advisory fees and commissions.
All Cabana Portfolios were up for the week, and higher-beta assets continue to outperform. Technology, consumer discretionary and international equities have led the way. The pullback in U.S. interest rates is finally beginning to reign in the U.S. Dollar. We discussed this potential two weeks ago and felt that these conditions could add support to the market breakout, which occurred in May. Things have quietly improved in both stock and bond markets over the past three weeks. Geopolitical news will likely continue to have an impact, but the technical and fundamental aspects of the market look promising. We may even revisit the January highs in stocks. The longer interest rates remain at or below 3% on the ten-year note, the better our chances. The rapid increase in rates during the first four months of the year is going to take some time to digest. The reason for the jump in rates is positive (demand growth and earnings), but nonetheless requires time for markets to re-price assets relative to one another. This is a major contributor to the incredible volatility we have seen. Markets appear to be getting there. We are moderately bullish.
Year-to-date net-of-fees performance:
ALPHA INCOME: -0.90%
Performance is presented net of the maximum advisory fees and commissions (2%). Numbers indicated with (+) for positive return and (-) for negative return.
-G. Chadd Mason, CEO
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Past performance may not be indicative of future returns. No current or prospective client should assume that the future performance of any specific investment or strategy will be profitable or equal to past performance levels.
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