– Strong bounce in Global Equities and US Treasuries as commodities sold off.
– Energy closed the week in the red. All other sectors, styles, and factors advanced.
– Despite strong performance from China, the emerging markets rally was weak, lagging developed markets.
– Broad commodity indices were weak, but oil prices only declined by 0.3%.

– Nowhere to hide as every major asset class declined. This week marked the broadest and most pervasive selling pressure in 2022.
– All sectors and styles lost money. Energy was particularly hard hit, giving up 17% for the week.
– Equities fell in all 44 of the countries that we follow.
– Lumber and the US Dollar both climbed 0.5%. Those were literally the only two assets with prices that had positive 1wk returns in World Wrap.