- Real Estate declined and gave up the title for best performing asset class. Bonds and commodities also declined as stocks rallied.
- Staples, Healthcare, and Utilities: just as you’d expect in a risk-on rally, the defensive sectors that led last year are lagging year to date.
- WSJ reported that US and China nearing a trade deal, while NYT reported that the proposed deal doesn’t address structural issues.
- Bond yields moved higher last week. Data coming out of China looks like an upturn is taking hold. Dovish Fed talk from Fed about changing inflation target.
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