BSJT - 3/6 Market Recap - Follow The Petrodollars

• Emerging Markets are outperforming the rest of the world, due in large part to windfall profits in the commodities-exporting countries of South America and the Middle East. If you want to follow the money, this is a good place to start.
• Money has been flowing out of tech, consumer discretionary, and communications services and into energy, utilities, and consumer staples. This trend will probably continue as long as there is uncertainty about the possible resolutions of the Russia-Ukraine war.
• After slightly underperforming growth last year, value is where the money is flowing. I see this as another durable trend. Growth has been hit hard by the slide in tech stocks this year.

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