– A stagflationary performance week with Global stocks and bonds selling off, and Commodities rallying.
– Energy and Consumer Staples were the only safe havens. Five of nine style boxes closed out the week in red for the year.
– China sank to new bear market lows in US dollar terms. The country’s bear market is four months away from its third birthday.
– Yields on 10Yr Treasuries climbed to new highs, stopping just shy of 5%. It’s the highest level since the summer of 2007.

– All key asset classes advanced. Commodities were the biggest winner on a sharp rebound in oil prices.
– Not a broad rally across factors. Mid and Small Caps declined. Energy and Utilities saw the largest gains.
– International equities rallied. Israel’s equity market declined 8.8% after the Hamas attack.
– Fixed income markets advanced, and yields fell. Gold prices also rebounded by more than 5%.