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Changes:VGIT +20.4%TLT +7.7%CRWD +5.0%PANW +2.0%BNO +0.7%

$TEQKAIROS Broad risk reduction. Last week equities were cut, today we continue the job with the exception of PANW. and CRW. Oil remains. Nice hedge to geopolitical blunders. Adding to our treasuries as Fed might need to rethink hikes into a growth shock. Not the base case but a fatter tail than market is pricing.

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