Market headlines since the shocking Trump presidential win have shown the S&P 500 and the Dow hitting all-time highs.  True enough, but that’s not the real market story that investors need to know.  Here’s the broad market performance since Tuesday’s market close*:

U.S. Stock Market (Wilshire 5000): +1.11%, +$155 Billion
International Stock Market (MSCI-ex U.S.): -2.62%, -$586.9 Billion
Global Real Estate Market: (Dow Jones Global Real Estate Index): -3.04%, –
$827.2 Billion

Global Total Bond Market: (Bank of America’s Global Broad Market Index): -2.31%. $1.14 Trillion

So while U.S. stocks are up marginally, it really reflects a re-allocation of assets from the foreign markets back to the U.S. This is consistent with what we’d expect given President-elect Trump’s strong campaign promise to strengthen the U.S. economy first. 

In a diversified portfolio, it’s typical that U.S. exposure might be around 50% or so, with the rest being international, fixed income, real estate, etc. So even though the U.S. markets have been rising a bit, the remainder of the portfolio (even conservative fixed income investments) have been under a bit of pressure.

More commentary coming early next week, but know that our neutral investment posture remains intact.

*Source: Google Finance