Turn! Turn! Turn! – March Commentary

“Geopolitical conflicts and/or exogenous events do more to reinforce trends already in place, rather than act as a catalyst for change (in the markets) – Strategas Research Partners.”  Gold is rallying; oil is in a bull run higher; value style is besting growth while Tech is a pronounced underperformer.  And Bitcoin –who’s strongest advocates claim it to be an alternative currency – is yet to offer any hedge or stability to risk assets.  These trends don’t change (because of geopolitical issues), just the urgency of them.  The horror and uncertainty of the Russian/Ukraine invasion is extreme; it is terrible, inappropriate, and immoral. It is most challenging to offer thoughts on how it will play out, as no one knows.  We can pray that it is a temporary geopolitical event which will hurt Russians economically, and will slow Germany and Europe economies (to a lesser degree), and will marginally slow other global economies depending on their connections to Russia/Ukraine.  At present, the US bond market is functioning normally (unlike March 2020 when COVID hit and the Great Lockdown was initiated).  There is increased volatility in all markets, but there is not dysfunction.  There is the normal, predictable flight to safety.  Please read our Special Market Update, “Market BUMPS to Climb On” from February 23 on our website, at www.nvestwealth.com.Continue reading