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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