th, for a price return of 46.9% from its trough of 666.8 on March 6, and a total return of 48.1%. Meanwhile, MSCI EAFE had a price return of 52.2%, MSCI Emerging Markets a return of 81.3%, and the high yield market as measured by the Barclays US corporate high yield Index had a total return of 49.1% from its trough

for risk assets across geographies, shows that readings are neutral, and emerging markets, in aggregate, do not look particularly overbought here. MSCI Emerging Markets a —FOCI EM —DPhirlonton SO NOM —knot MSCI Emerging Markets IWO 40% 1606 20% IWO 1030- 0% 20 030 40% 4.20 40% 0- 10t • 40* —169CIEIA —