Brazil EWZ Sank 19.82%

Monday delivered EM weakness. Brazil EWZ set the tone.

Growth and cyclicals led, Brazil weakness deepened

Movers

Leaders: Technology XLK +1.69% (3M: +9.0%), Industrials XLI +1.42% (3M: -8.3%)

Laggards: Brazil EWZ -19.82% (3M: -5.3%), Communication Services XLC -1.57% (3M: -5.0%)

3M Leaderboard

Strong: Energy XLE +21.7%, Taiwan EWT +12.4%, Technology XLK +9.0%

Weak: China MCHI -9.7%, China Large Cap FXI -8.8%, Industrials XLI -8.3%

DAILY · 3M

High-quality bonds led, credit-sensitive income lagged

Movers

Leaders: Long Treasuries TLT +0.42% (3M: -1.9%), Muni Bonds MUB +0.38% (3M: -1.2%)

Laggards: Preferred Stock PFF -0.17% (3M: -4.0%), EM Sovereign Bonds EMB -0.16% (3M: -2.6%)

3M Leaderboard (within FI scale)

Strong: Short TIPS VTIP +0.3%, Short Corporate VCSH -0.1%, TIPS TIP -0.5%

Weak: Preferred Stock PFF -4.0%, EM Sovereign Bonds EMB -2.6%, Long Treasuries TLT -1.9%

DAILY · 3M

Momentum names led, crypto and clean energy lagged

Movers

Leaders: Semiconductors SMH +2.74% (3M: +2.3%), Momentum Factor MTUM +1.77% (3M: +1.0%)

Laggards: Ethereum Trust ETHA -3.22% (3M: +20.4%), Clean Energy ICLN -2.93% (3M: -9.6%)

3M Leaderboard

Strong: Bitcoin Trust IBIT +25.1%, Ethereum Trust ETHA +20.4%, Biotechnology IBB +9.5%

Weak: Clean Energy ICLN -9.6%, Infrastructure PAVE -8.7%, Global REITs REET -8.3%

DAILY · 3M

Related

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• Fear and greed: today's market sentiment reading

Romain Gandon
CEO, Quantlake

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. Past performance is not indicative of future results.