For the better part of 2018, markets have been under the spell of technology stocks. And FAANGs were at the helm, bewildering investors with stunning earnings, but also shocking them with data breach scandals or disappointing guidance. Emerging markets have had a rough year. Turkey and Argentina were caught in a currency storm bot, seeing their notes sink abruptly. Aluminum and steel prices spiked on President Trump’s tariffs announcement, while oil reached four-year highs on Iran sanctions only to reverse on supply glut fears. Benchmark treasuries hit seven-year highs amid robust economic data and ultra-low unemployment. Last but not least, a refurbished NAFTA deal gave the U.S. administration an impulse to push further in its attempt to reduce the massive trade gap it holds with China. Check our previous trends edition at Trending: Soybeans Jump on US-China Trade Ceasefire.