US stocks logged their biggest three-day gain in months through Thursday, thanks in no small part to the monetization of hedges and profit-taking on long vol. trades.
But if you're searching for evidence of lingering trade jitters, look no further than the following visual.
(Heisenberg, current through midday Friday)
On the top is Deere (DE), which is on track for its worst month since 2011. On Friday, the company cut its outlook citing uncertainty around "export-market access and near-term demand for commodities". In other words, the company cited trade concerns. In the bottom