Weekly Commentary | May 23, 2021
Macro Picture
Stocks weren't much changed this week with the S&P 500 down small and the Nasdaq up marginally. The larger news item was the ~40% drawdown in cryptocurrencies. This is the third of such drawdowns in four years. However, this time it occurred in a $2T asset class. Cross asset class contagion is not yet apparent so it really is just noise…
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