South Korea EWY Rose 1.92%

Tuesday registered a hard-asset bid. Precious metals set the tone.

Beaten-down rebound led, overseas defensives lagged

Movers

Leaders: South Korea EWY +1.92% (3M: -7.3%), Utilities XLU +1.17% (3M: -11.8%)

Laggards: Intl High Dividend IDV -1.41% (3M: +4.0%), Intl Min Vol EFAV -1.09% (3M: +4.3%)

3M Leaderboard

Strong: Energy XLE +16.6%, Copper Miners COPX +11.1%, Healthcare XLV +8.0%

Weak: Utilities XLU -11.8%, S&P SmallCap Growth SLYG -9.4%, Industrials XLI -8.4%

Short duration held up, long duration lagged

Movers

Leaders: Short TIPS VTIP +0.05% (3M: -0.7%), 3-7yr Treasuries IEI +0.04% (3M: -2.4%)

Laggards: Long Treasuries TLT -0.50% (3M: -8.4%), Muni Bonds MUB -0.33% (3M: -6.1%)

3M Leaderboard

Strong: Short TIPS VTIP -0.7%, Short Corporate VCSH -1.2%, High Yield HYG -1.8%

Weak: Long Treasuries TLT -8.4%, Muni Bonds MUB -6.1%, Investment Grade Credit LQD -5.0%

Gold complex led, alternative strategies lagged

Movers

Leaders: Gold Miners GDX +1.34% (3M: +18.1%), Gold GLD +1.32% (3M: +3.9%)

Laggards: Managed Futures DBMF -0.55% (3M: +5.9%), Long/Short Equity FTLS -0.36% (3M: +4.2%)

3M Leaderboard

Strong: Ethereum Trust ETHA +70.6%, Bitcoin Trust IBIT +42.2%, Gold Miners GDX +18.1%

Weak: Clean Energy ICLN -17.0%, Infrastructure PAVE -10.2%, Semiconductors SMH -7.5%

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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.