Can Equities Remain a Hold Out

SP:SPX   S&P 500 Index
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Benchmarking to last Summer's lull in activity, we find only one major 'risk' oriented asset class still in positive territory: equities. The S&P 500             is my preferred stand in for the role; but you can see it stands alone. Carry trade, high-yield bonds, emerging markets, frontier markets and commodities are all tumbling between 6 and 32 percent declines. Can the S&P 500             remain above it all? Unlikely. My preference when the floor gives will be short Yen crosses.
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