The Worst First Half Ever

Well that was rough. The first half of the year saw the worst performance for risk assets in a long, long time.
The S&P 500 hasn’t had a January through June like the one we just had since 1970.

It was the worst start ever for the Nasdaq, which fell more than 30%.

Making matters worse, it was also the worst start to a year for risk-off assets. The 10-year treasury note hasn’t seen a first half like this …

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