Bonds are once again a risk-off asset.

Source: https://biztoc.com/x/b425614e42ae3808?ref=ff

I always make it a point to stress that there are four “risk-off” trades: Treasuries Gold Utilities The Dollar Everyone seemingly has been screaming about a dollar bear market for the last several months following the peak in September of last year.

Source: https://biztoc.com/x/9fbe404f662fcbd4?ref=ff

I think there's an opportunity for international stocks to work in a big way, just after a traditional risk-off sequence globally.

Source: https://seekingalpha.com/article/4619036-sdiv-only-if-international-outperforms?source=feed_all_articles

"The euro has moved higher after the Spanish CPI data, but there's also risk-off sentiment which should be slightly positive for the dollar," Nordea's Christensen said, noting that equity futures were lower in the U.S. and Europe.

Source: https://www.ibtimes.co.uk/dollar-seesaws-ahead-busy-central-bank-week-euro-higher-after-spain-cpi-1712043

"The yen is softer to a similar degree, so the FX market is singing a bit of a 'risk-off' song".

Source: https://www.marketscreener.com/quote/stock/CREDIT-SUISSE-GROUP-AG-9364979/news/UBS-to-take-over-Credit-Suisse-to-stem-global-crisis-of-confidence-43287093/?utm_medium=RSS&utm_content=20230319

We would lighten up a bit on exposure here but maintain a core allocation to HYEM, set a net target allocation and pounce on the name during the next risk-off event for the market.

Source: https://seekingalpha.com/article/4615856-hyem-9-percent-yield-from-emerging-markets-debt?source=feed_all_articles