MODEL 1: euro govies 1-3 years (if you can use cash sight deposit with a "+" rate)
MODEL 2: euro govies 1-3 years (if you can use cash sight deposit with a "+" rate)
MODEL 3: 1) euro govies 1-3 years (if you can use cash sight deposit with a "+" rate) and
2) euro high yield corporate bond
MODEL 3.v4: 1) euro govies 1-3 years (if you can use cash sight deposit with a "+" rate) and
2) euro govies floaters
3) global corporate bonds
All models recovered some or/all June losses in July continuing to be positive at the middle of the year. Most aggressive models recovered only a small amount of June losses.
Below you can see the table with monthly and ytd performance and relative chart
I want also to update the latest models (Model 4) that run versus a benchmark. You can find description in the post about MODEL 4 and MODEL 4 US Style. August allocations are:
MODEL 4: euro govies 1-3 years (if you can use cash sight deposit with a "+" rate)
MODEL 4 US: 1) 89% US treasuries 1-3 years (if you can use cash sight deposit with a "+" rate)
2) 11% S&P500
MODEL 4 performed 2,1% ytd vs 7,7% benchmark Equal-Weighted, therefore underperforming at the moment
MODEL 4 US performed almost flat ytd (0,2%) vs 0,9% benchmark return, slightly under-performing.
(note: since August Bloomberg denied access to previous govies 1-3y index, therefore I was forced to find another substitute that is not the SHY etf benchmark)
CONCLUSION: after a very good beginning of year my momentum models suffered the "back to reality" events, especially in April and June when there was many strong countertrend moves. Nevertheless all models 1-2-3 are positive in this 2015 covering ETF managements expenses and trade commissions
Most recent models (Models 4) are basically flat that isn't a great result. They're doing a bit worse than benchmarks
NOTE: September allocations will be updated with a strong delay because of my holiday. I think I won't be able to update it before 17-18 September therefore will be useful just for trackrecord but not for real monthly allocation. I'll stay cash with my money while I can't monitor markets.
