Biotech continued to outperform among the universe of ETFs we track daily, rising by over 7% in the past 5 sessions. Solar has also outperformed. Both are a result of Trump Administration policy, with the Biotechs benefiting from the release of the Senate’s Health Care plan last week and solar stocks getting a boost from plans to construct a border wall clad with panels. Taiwan has rallied in the wake of the CBC’s policy meeting last week, and Treasuries have also turned in good performance. In the losing column: oil/Energy stocks, banks, the UK, and Australia.

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