Below is our matrix of ETFs that highlights the recent performance of various asset classes.  US index ETFs are now solidly in the red for the week, with the Nasdaq 100 and Midcap 400 declining the most.  On a sector basis, we saw seven decline and three post gains.  Utilities, Materials and Telecom fell the most, while Consumer Discretionary, Financials and Health Care were in the green.

For the year, Consumer Discretionary and Health Care have been the clear winners so far.  The Nasdaq and smaller cap stocks have also outperformed the Dow and S&P 500 significantly this year.

Outside of the US, we saw wide performance disparity this week.  Australia, Brazil, Hong Kong, Russia and the UK were all down 2%+ on the week, while countries like France, India, Italy and Japan were up 1%+.

Finally, the TLT long-term Treasury ETF continues to get hit hard.  The ETF is down another 3.5%+ this week, leaving it down more than 12% on the quarter.

Bespoke subscribers received a number of actionable reports this week covering both macro and micro calls.  Sign up for a 5-day free trial to Bespoke Institutional to see everything we put out this week, and you’ll also receive our Bespoke Report newsletter due out later today.  Have a great weekend!

July4thdiscount

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