MAST REPORTS

The Mast Weekly Report provides information, analysis, and advice to investors, investment advisors, investment consultants and financial planners to help them in the management of their investment portfolios. The Report covers topics on financial markets and the economy that are pertinent to how and why markets and the economy perform as they do. Topics discussed are supported with specific and pertinent information and metrics.

Rates of return on the investment portfolios of long-term investors are primarily determined by how assets are allocated among major classes of financial assets. Thus, asset allocation is a major topic covered in the Reports. Mast’s main focus in managing client portfolios is on asset allocation. Our investment process is based on analysis that importantly includes known market information and data that reflect and quantify investors’ expected rates of return for major assets classes. This results in an approach to managing investment portfolios that is intentionally based on and driven by objective analysis and data, as opposed to subjective opinions and forecasts. The objective of Mast Weekly Reports is to provide this information, analysis, and advice to investors, advisors, consultants and planners to help them in the management of their investment portfolios.

Mast Month Reports provide the same information coverage over the preceding month. Mast Special Reports cover analysis of a specific investment management factor or topic.

Mast Report Month 12/30/22

Current Stock ERP 2.53% Near Channel Estimate/Below 3.35% Historical Mean...Treasuries and IG Bonds Compete With Stocks’ Expected-Returns 1-5 Years Out...

Mast Report Week 12/23/22

When are financial asset prices attractive? What measures attractive stock and fixed income prices and yields?

Mast Report Week 12/16/22

Equity risk premium (ERP) at 90% high channel position...30-year Treasury bond price 110% high channel...

Mast Report Week 12/09/22

30-year Treasury bond price is high, 114%, in its channel....S&P 500 Index price is high, 82.1% in its channel...

Mast Report Week 12/02/22

S&P 500 Index and Long Treasury Bond prices above channel tops...Long Treasury and TIPS yields below channel bottoms...Both unattractive...

Mast Report Month 11/30/22

Treasuries expected return (ER) better than riskier financial assets with below-average spreads and premiums....Investment grade bonds w/intermediate duration near average yields and spreads and attractive Min-Max percentile...

Mast Report Week 11/25/22

Stocks +8.49% over fair value and 99.1% high in channel....long-Treasury bond price +5.98% fair value and 94.8% high in channel...

Mast Report Month 10/31/22

2.43% ERP (equity risk premium) near 52-week low (2.38%) and channel bottom (2.7%)...S&P 500 year ahead forecast return -2.86%....One year Treasury note yield 4.54%...

Mast Report Month 09/30/22

High channels 97% for ERR (4.40%) and 117% for long TIPS yield (1.71%)...low channel 15% for ERP (2.69%)...

Mast Report Month 08/31/22

Year-to-date price changes: S&P 500 Index -17.02% and long Treasury bond -26.07%...Trailing operating earnings +16% over normalized, down from +25% 12/31/22...

Mast Report Special 05/20/22

Growth and value stock relative price performance is explained in recent periods by change in the real risk-free long-Treasury TIPS yield change...