• Global markets were up this week, with the U.S. indexes reaching new all-time highs.

• Positive sentiment struck vigorously as a bumper jobs report of 287,000 in the U.S. for last month eased concerns about the health of the economy.

• All eyes have been on Britain again: David Cameron resigned much earlier than previously announced, leaving the Prime Minister spot to Theresa May, who made it clear that Britain will leave the European Union.

• At the first meeting following Brexit, the Bank of England decided to stay still and keep interest rates at the same level of 0.50%, surprising the markets. However, it strongly hinted that a stimulus package will likely follow in August.

• Unemployment claims in the U.S. again came in lower than expected – 254,000 versus 265,000 – confirming the American economy is on strong footing, despite macro headwinds abroad.

• Hard landing outcome in China has been avoided, at least for now. Last quarter, the Chinese economy grew 6.7% versus the 6.6% forecast, and industrial production in the last month edged up 6.2%.

• But that’s not the whole picture. Chinese exports fell 4.8% in June in dollar terms after declining 4.1% in May and 1.8% in April. Imports dropped even more, about 8.4% year-over-year, after plunging 0.4% in May.

• In Japan, the current Prime Minister won a landslide victory in upper house elections last weekend, after which he promised new fiscal stimulus measures. Markets cheered the news.

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• The broad market is up this week, with the S&P 500 ETF (SPY A) jumping 2.40% as investors applauded news of new stimulus from developed world central banks and a strong jobs report at home coupled with easing worries about China.

• Low Volatility ETF (SPLV A) was slightly up since last Thursday, by 0.54%.

• The high beta ETF (SPHB B-) has had the best performance of the bunch, jumping 5.40%, after being the worst performer over the past several weeks on Brexit concerns. This week, investors evidently switched to risk-on mode.

• Major indexes have risen this week, with a few of them reaching new all-time highs, leaving many investors befuddled.

• Emerging markets (EEM A-) have posted the best performance for the week and rolling month, rising 4.74% and 8.53%, respectively, as Chinese data showed concerns about a hard-landing scenario proved overblown.

• The S&P 500 (SPY A) has had the worst performance for the week, rising 2.40%. However, that is hardly a negative: the index hit new all-time highs this last week as investors were optimistic about U.S. prospects following the upbeat jobs report.

• The iShares MSCI EAFE Index Fund (EFA A) is the worst performer for the rolling month, with a 2.73% gain. The fund has heavy exposure to Japan and Europe, with the latter likely proving a drag on performance. For the week, however, the fund was the second best performer, reflecting a strong Japanese stock market following Abe’s stimulus remarks.

• All foreign ETFs are up since last Thursday, after largely dropping in the previous week.

• The best performer for the week and rolling month is Brazil (EWZ B+), which edged up 6.24% and 18.43% respectively, extending a rally started in March on an improved political landscape in the country coupled with upbeat global market sentiment. Brazil’s lower house is likely to elect a speaker supportive of the President’s proposal to cut the budget deficit, making investors optimistic about the country’s stock market.

• The worst performer for the week is India (EPI B+), up 3.67%, as the index continued its recovery following a nasty Brexit sell-off.

• For the rolling month, Germany (EWG B+) remains the worst performer, with a 1.35% gain, dragged down largely because of the flailing banking stocks, which – along with their much-worse positioned Italian peers – may conjure up a pan-European banking crisis.

• Commodities have posted mixed performance for the week.

• Copper (JJC A) has risen the most this week, by 5.97%, largely on news of shipping delays from the world’s top producer Chile. A stormy weather has made it difficult for shipping companies to load cargos.

• Gold (GLD A-) and Natural Gas (UNG B-) are the worst performers for the week, both falling 1.94%. Gold has lost its safe-haven appeal after investors started flocking to risky assets again, while Natural Gas inched lower after data showed on Thursday that inventories were rising.

• Oil (USO A) has posted the worst performance for the rolling month, dropping 7.33%, while Silver (SLV C+) continued to shine, with a 15.96% gain.

• Currencies have posted mixed performance for the week and rolling month, reflecting a risk-on sentiment.

• The British pound (FXB A-) has recovered this week from an abrupt decline following the Brexit vote, growing the most, by 2.76%. It remains, however, the worst performer for the rolling month, with a 5.88% loss.

• The Japanese yen (FXY C+) is the worst performer of the week, dropping 4.60%, largely on news about new stimulus measures from the Japanese Prime Minister and investors’ flight to risky assets.

• For the rolling month, emerging currencies (CEW A) have increased the most, posting a 3.67% gain.

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Disclosure: No positions at time of writing.