Nov 22, 2016
Precious metals, especially metals miners, continue to underperform on a trailing 1 week basis. Other underperformers include Asian EM (Malaysia, the Philippines, and India), Biotech (a major outperformer after the election), and European equities. Gainers over the last week include Energy, semis, telecoms, retail, and small caps.

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Nov 21, 2016
As we’ve moved away from the election, trailing returns for both the best and worst performers have rationalized a bit. Over the last week, Biotech and Pharma have actually underperformed, though the US dollar continues to advance. Energy ETFs have advanced markedly over the last week, with oil benefiting from OPEC chatter. Russia has also performed well, along with Canada, Brazil, and commodities more generally.

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Nov 18, 2016
After a 5% rally in front-month WTI on Wednesday (courtesy of OPEC chatter), week-over-week performance for oil-related ETFs has been solid. Health Care Providers have also bounced back from post-election lows, while Banks have fallen off recent highs but are still up solid versus a week ago. Worst performers include other FX, silver, and European equities.

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Nov 17, 2016
As yields have yet to slow down, so go banks with KRE and KBE still at the top of the best performers list. Microcaps also continue to surge as does the Russell 2000, on a 10 day win streak. Japan is the only country that’s made an appearance in the top 20, and only then after hedging out the effect of the plunging yen. Gold continues to get hit, as do a number of EMs and other international markets with USD exposure.

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Nov 16, 2016
Banks continue to pace ETF gains over the past week but there was a big slowdown today. KRE and KBE were both down in the neighborhood of 1.5%. The rally in the micro caps continued, and small caps in general litter the top performers list. Retail is also up there, helped both by Trump’s election and the very strong retail sales numbers reported yesterday. Worst performers belong to gold, EM, and commodities. It’s been an absolute mess for EM equities (especially priced in USD, as ETFs are) over the past couple of weeks.

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Nov 15, 2016
Biotechs and banks have led the rally out of the election but small caps are arguably more impressive with various flavors of S&P 600 and Russell 2000 indices flying and even the micro caps getting in on the action in a big way. Infrastructure plays (PKB, SLX, FXR) have also performed well. On the losing side of the equation Mexico and the rest of EM continue to grind lower while gold and the bond market also underperform dramatically.

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