Oil plunged today ahead of tomorrow’s OPEC announcement, with markets positioning for no agreement on production cuts by the cartel. Exploration and production companies, MLPs, and other related ETFs litter the list of the worst performers over the past week, with biotech and gold also performing poorly. On the other side of the coin natural gas has surged higher over the last few days while base metals, steel, China, and India have performed well. Also sneaking back some performance: REITs, which had gotten absolutely smashed along with bonds following the US election.
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