Model Portfolios :: August Update

S&P 500 4588.96 :: 10-Year UST Yield 3.96% :: July 31, 2023

The S&P 500 Index closed below the 3,600 level on four separate occasions during a two-week period between late September 2022 and mid-October 2022 as it established a stock market bottom. The four closing low dates were:

October 12, 2022 — 3577.03

October 14, 2022 — 3583.07

September 30, 2022 — 3585.62

October 11, 2022 — 3588.84

Since then, the S&P 500 Index has rallied to the July 31, 2023 closing level of 4588.96, up +28.3% from the 3577.03 closing low on October 12, 2022. The all-time closing high of 4796.56 was achieved on January 3, 2022, just a few percent higher than the July 31, 2023 closing price.

---

Money market fund assets have been increasing as savings move out of lower-yielding instruments into higher-yielding money market accounts. According to ICI.org, money market assets recently reached $5.5 trillion. The Vanguard Federal Money Market Fund (Symbol: VMFXX) offers a 5.2% 7-day yield and a 5.3% compound yield.

Below is an update of the Marketimer Model Portfolios and the Brinker Fixed Income Advisor Model Portfolios through July 31, 2023.