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Commentary Topic from greenfaucet

The New Paradigm (For Now)

A new pecking order is emerging for sectors:

• Long utilities, airlines and consumer discretionary
• Short emerging markets, coal and metals

This might sound strange coming from me, given that I have mercilessly beat the drum on how low rates in the U.S. would drive capital overseas and condemn us to a Bernanke-induced deflationary coma. I still have those concerns over the longer term, but that trade has run its course for the time being. Right now, the trade is: "America First."