Gold-related ETFs have rebounded over the last week. Asian country-related ETFs have also surged with China, Hong Kong, and South Korea up 4% or more in 5 days. Natural gas, which had been a consistent outperformer, is down almost 6% in a week, with oil also getting hit despite a bit of a rebound to start this week. Within the US equity markets, Retail and Construction have done poorly, while no US-specific exposure is in the top 20.

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