Portfolio Update: Tactical Changes July 2025

Happy Summer!

As we reach the midpoint of the year, both stocks and bonds are pressing toward new highs, with stock indexes setting records and the bond index nearing multi-year peaks. Markets have shown remarkable resilience, climbing higher despite armed conflicts, political turmoil, tariff uncertainty, growing fiscal deficits, and a hesitant Federal Reserve. This rally continues to defy a wall of worry - economic, geopolitical, and monetary.

The old axiom “a trend is a trend until it’s not” feels especially relevant right now. Momentum is clearly bullish, and following the trend has been more effective than relying on fundamentals, especially as equities still appear historically overvalued by traditional metrics. But predicting a change to this dynamic seems like a fool’s errand, as it requires not just being accurate in what will happen, but to be timely about it as well.  So, for now, the approach is to watch and wait for signs of change. There are plenty of catalysts and metrics to monitor, but fighting the momentum looks like an uphill battle. The recommended course is to stay patient and disciplined, but be ready to act if the winds change.

In July, Provizr portfolio adjustments have focused on fixed income. Bias towards lower interest rates and weakness of the U.S. dollar have portfolios now favoring Intermediate Corporate Bonds in the Core Bond rotation, replacing Short-Term Corporate Bonds.

These changes have already been performed...there is nothing for you to do! So sit back and relax knowing Provizr is working for you! 😊

Alan Brilliant

Co-Founder, Provizr

Want additional help navigating these turbulent times? Watch our video on how to Avoid Timing The Market

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