– Global equities closed lower for the third week in a row.
– Energy was the only US sector, style, or factor to close in the green.
– China fell 4.1% last week, pushing it into correction territory. China has fallen more than 13% from January highs.
– Stronger than expected PCE inflation pushed yields on the 2Yr Treasury to 15-year highs.
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– Every key asset class declined. Commodities fared worst on lower oil prices.
– Sectors were mixed, with five of six sectors advancing. Utilities and Consumer Discretion led all sectors.
– Developed markets were flat. It was a decline in emerging markets that pulled down broad international indices.
– Bitcoin rallied 13.6% and is up 47% year to date as it attempts to recover from heavy losses in 2022.
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Market Risk Index scales from 0 to 100%. Higher readings correspond with higher risk markets. Scores below 25% are bullish. Scores between 25-75% are neutral, and scores above 75% are markets vulnerable to major drawdowns.
Model Category Readings (Percentiles)
