Wall Street investors with diversified bets are winning at last

In the grip of the tariff war, epic rotations out of American equities have become a regular feature of markets. A Treasury index has climbed almost 3% this year, while gold and corporate debt are among other assets that sit atop of the leader-board. The reshaping of the trading landscape represents a long-awaited reversion to normalcy for purveyors of diversification strategies.

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