Steel producers retain their place as the best performers over the last five days, while coffee has also seen a fairly significant rally over the past week. Other miners, like gold miners, have performed well, while banks have been a beneficiary of higher interest rates. South Africa, Brazil, Poland, and Turkey have led emerging markets higher over the last give sessions. On the other side of the performance slate, natural gas continues to decline, by far the worst performer in the ETFs we track. Homebuilders have also been hit very hard relative to the rest of the ETF universe over the last few days.

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