Performance
Highlights From The Gold Book
The stock market continued to show strength during March, with the DJIA turning in a 3.7% gain while the S&P 500 rose 2.7%.
Scanning the Markets
The best and worst equity sector performers for March.
Bond Rally Lost Its Punch In March
Weight of the evidence bond market discipline shifted to negative from neutral this month.
February Action: Not Many Declining Sectors
In late February, the stock market moved to new highs. The DJIA broke above its 4000 barrier on a 4.4% gain for the month, while the S&P 500 rose 3.6%. Only four of our 61 groups turned in negative performance during February.
View from the North Country
The incentive system from hell: Adjusted for inflation, we now spend nine times as much on welfare as when the War on Poverty began in 1965. Also, an interesting study by Collins Associates: Past performance is not a reliable prediction of future performance and, in fact, is a poor predictor of future results.
Bond Market Summary
Bond market now ahead of itself...Economy stronger than many perceive...Fed may not be done tightening...Expect bond market correction to develop from overbought position sometime in March.
Scanning The Markets
The table on the next page is a performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by January's performance.
Halfway Through The Decade...Leaders And Laggers
This X-Rays & EKG's section presents the best and worst performing conceptual sectors and quantitative themes over the first half of the 1990's.
Inside The Bond Market
Weight of the evidence discipline improved from negative to neutral this month. Long T-bond six and twelve month risk seen only as 8.50% level.
A Look In The Rearview Mirror
Our most significant call was the mid-year major move into "Gilt Edged Growth" stocks...the worst may have been an early 1994 move into REITs (we still like them).
Scanning the Markets
A performance rundown for The Leuthold Group's equity market sectors ranked by year to date performance.
Economy Showing No Signs of Cooling Off
Economy Humming Along...Fed Not Done Yet...Inflation Still Number One Worry
Major Trend Index Negative
Bond market decline may be in find stages, but stock market can stilll fall 20%- 25%, even if bonds stabilize in coming months.
November Action: Not Much Positive - Drugs Lead, Golds Trail
The S&P 500 declined 4.0% for the month of November and is now down 1.7% for the year to date.
Scanning the Markets
Performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by October performance.
View From the North Country
Economic growth and stock market performance don’t go hand in hand - the stock market looks ahead. Don’t be surprised by more wage irrflation. The AdvantHedge short selling program is updated and explained because readers have expressed a growing interest (maybe it’s the market).
Inside the Bond Market
Weight of the evidence discipline remains negative on a cyclical basis, but long T-bond six month risk seen only as 8.25%-8.50% level, with 12 month risk at 8.50% level.
Scanning the Markets
Performance rundown for The Leuthold Group's equity market sectors (and other measures) ranked by Q3 performance.
September Generally Subdued: Some Notable Reversals of Fortune
The S&P 500 declined 2.7% for the month of September (yet still managed a nice 4.1% gain for the third quarter). The technology related themes provided the most consistent leadership during the quarter.
Perception for the Professional
March 2026 Issue
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March 2026 Issue
