Investment gains were missing in action last week for all the major asset classes, based on a set of broadly defined proxy ETFs. The best performer only managed to hold steady for the five trading days through Aug. 28, with the rest of the field posting varying degrees of loss.
The SPDR Barclays Capital High Yield Bond ETF (JNK) remained unchanged last week, posting a zero total return - the best performance for the last full week of August. Flatlining looks pretty good vs. the worst performer for the previous week: emerging market stocks tumbled 2.3% via the Vanguard FTSE Emerging Markets ETF (VWO). The slide in VWO - the first weekly decline for the fund since early July - was due in part to higher probability estimates for a US rate hike in the near term after moderately hawkish comments from Fed officials last week. Emerging market assets are…
