– Financial markets were a sea of red this week with all asset classes declining.
– All sectors, styles, and factors declined. Dow Transports declined more than 8%.
– Middle Eastern equities and Italy were the only two international equity markets to see higher prices.
– The US dollar rallied, as did silver prices. Non-commercial futures positioning in silver is net short for the first time since 2019.

– Global stocks rallied, led by a strong snap back for US equities, but the fear of missing out was absent from international equities.
– Growth and Tech stocks outperformed while Energy stocks lagged considerably for the week.
– Developed markets closed in the green, but emerging equities were down slightly.
– The dollar gave up some gains, and fixed income markets declined with the notable exception of a rally in high yield corporate bonds.

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