It's the Next 10% in Beta That Should Matter - The S&P 500 has corrected 10% off record highs and #Bitcoin 30%, yet #gold keeps appreciating, which may suggest what matters. The US #stockmarket's record setting run since the financial crisis could be akin to decades of surging US trade deficits that lured many export dependents. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/su5026dwrgg1 {BI COMD} #commodities #macroeconomics @BBGIntelligence