Daily Movers: Bitcoin Trust IBIT Rose 6.50%

Monday reflected a crypto-led risk rotation. Bitcoin Trust IBIT rose 6.50%, Ether Trust ETHA gained 4.67%, Communications XLC climbed 3.90%, and South Korea EWY advanced 4.33% against a 3M downtrend. Gold Miners GDX fell 1.10%, Energy XLE dropped 2.30%, Gold GLD lost 0.70%, and Munis MUB edged down 0.02%.

Equity: Korea rallied against a 3M downtrend, energy reversed

Movers

Leaders: South Korea EWY +4.33% (3M: -13.6%), Communication Services XLC +3.90% (3M: +7.7%)

Laggards: Energy XLE -2.30% (3M: +16.2%), Select Dividend DVY -0.64% (3M: +2.8%)

3M Leaderboard

Strong: Energy XLE +16.2%, Healthcare XLV +13.1%, Brazil EWZ +11.1%

Weak: South Korea EWY -13.6%, Utilities XLU -8.4%, Industrials XLI -6.3%

Fixed Income: Long duration and income proxies led, munis lagged

Movers

Leaders: Preferred Stock PFF +0.70% (3M: -0.6%), Long Treasuries TLT +0.68% (3M: -3.9%)

Laggards: Muni Bonds MUB -0.02% (3M: -3.4%), Short TIPS VTIP +0.08% (3M: -0.1%)

3M Leaderboard (within FI scale)

Strong: High Yield Bonds JNK unch., High Yield HYG -0.1%, Short TIPS VTIP -0.1%

Weak: Long Treasuries TLT -3.9%, Muni Bonds MUB -3.4%, Investment Grade Credit LQD -2.2%

Specialty: Crypto proxies led, gold miners lagged

Movers

Leaders: Bitcoin Trust IBIT +6.50% (3M: +34.3%), Ethereum Trust ETHA +4.67% (3M: +59.6%)

Laggards: Gold Miners GDX -1.10% (3M: +16.0%), Gold GLD -0.70% (3M: +3.6%)

3M Leaderboard

Strong: Ethereum Trust ETHA +59.6%, Bitcoin Trust IBIT +34.3%, Biotechnology IBB +17.0%

Weak: Clean Energy ICLN -17.7%, Semiconductors SMH -10.9%, Infrastructure PAVE -10.2%

Cross-Asset Read

EWY and TLT rose against 3M downtrends; XLC, IBIT, and ETHA extended 3M uptrends; XLE and GDX fell against 3M uptrends; MUB extended its 3M downtrend.

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.