Before our last newsletter, global stock markets had endured their first serious decline in some time. Although less severe than many previous corrections (so far), the swiftness and lack of foreshock in which it came, left many investors unsettled.
Since then, stock markets have mostly bounced off their year-lows and are trending higher---- though calling this movement a rally would be a stretch.
Looking forward, our portfolios remain in good condition and don't require rebalancing. As stock market valuations remain historically high, they also don't require adjusting. Another round of market volatility may necessitate some adjusting and subsequent rebalancing.