Portfolio Update for May 2024
This will be a relatively short post, just to update on the transactions for the month. For the month of May, it was an interesting month. The old adage of “Sell in May and Go Away” was definitely back to haunt the markets before the month started, especially with the looming threat of stickier than expected CPI numbers. However, interestingly, the markets were hitting new highs in May. The Dow Jones Industrial Index crossed the 40,000 mark for the first time this month, bringing confidence to the performance in the market. On the other hand, CEO of JP Morgan, Jamie Dimon was cautious and said that US cannot rule out the possibly of a hard landing, and stagflation would be the worst outcome for the US. This speech brought volatility back into the markets and pushed back any hopes of rate cuts to the 4th quarter of 2024 instead of the 3rd. Personally, I have mentioned earlier that I am not going to be guessing when the rate cuts is going to happen and I am just going to live wi