– US and EM stocks led. Treasuries and REITs barely rose, while commodities split as oil slid and silver/gold popped.
– Tech crushed it on AI earnings. Growth beat Value, while Energy and Utilities sank as oil cooled and defensives were dumped.
– EM ripped nearly 7% higher, led by Korea’s AI-fueled melt-up and Taiwan’s surge, while Europe lagged badly again.
– Bonds eked out gains as yields slipped. Oil fell hard, silver/gold rallied, and the dollar logged a second weekly decline.

– Stocks kept climbing – U.S. led, REITs joined, commodities rose on oil and gas, while Treasuries slipped as rates backed up.
– Energy surged while Materials lagged – value and momentum led broadly, with small caps strong and mid-cap growth the lone weak spot.
– Global markets were sharply split – Korea, Japan, and parts of Europe led, while Taiwan, China, and commodity EM lagged in a choppy, uneven week.
– Bonds sagged, EM debt weakened, oil and gas ripped, gold slipped, and the dollar gave back last week’s safe-haven bid.