Tepid investor enthusiasm for equities as flows slow to a trickle this year and SPY nears a 52-week low vs. ACWI. The Euro Stoxx 50 ETF and Global Metals and Mining Producers broke out to new highs vs. ACWI (FEZ, PICK). U.S. Tech and the ACWI remain highly correlated and Long-term U.S. Treasurys and High Yield correlation rises to a decade high (XLK, ACWI, TLT, JNK).
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