CHART OF THE DAY: An Important Shift Within U.S. Equities

Long USA (FX, Equities, Credit) vs. the rest of the world’s Quad 3 and Quad 4 #GrowthSlowing problems saw a notable shift with respect to the componentry underlying US Equity outperformance last week – the Bond Proxies led the charge!

1. REITS (VNQ) were up a big +3.2% last week moving into the black at +0.1% YTD = Bullish TREND @Hedgeye
2. Utilities (XLU) were up +1.3% last week moving into the black at +1.2% YTD = Bullish TREND @Hedgeye