The S&P 500 Index is off -17.5% year- to-date, the Nasdaq -29.7%, growth stocks have been hammered down -26.1%, oil is up nicely, oil stocks up nearly 2x the price of oil, bonds are having one of the worst years on record with the Barclays Aggregate Bond Index down -13.4%, the worst year on record that we could find is 1788 which we would dismiss, and 1931 with Treasuries down -15%.

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