– US equities fell for the second straight week – the first back to back weekly declines since May. Treasuries rallied as did International equities.
– It was a difficult week for both the best and worst sectors, as both Tech and Energy stocks fell by more than 4%. Materials was the only sector to climb.
– International equities bucked the trend with US stocks and moved higher, almost solely on the back of European equities.-
– After persistent declines for months, the dollar has started climbing for a few weeks. It’s boosting the price of US Treasuries, and oil is falling.

– Treasuries became a safe-haven again as volatility picked up and risk assets declined.
– Growth, momentum, and Tech were hit hardest last week. Interest rate sensitive sectors held up better while Treasuries rallied.
– Bitcoin was off nearly 11%. Lumber’s decline was modest given how large the ytd gains are.
– Copper prices managed to climb modestly as most other commodities were selling off.