Hedges did their work today. Moving down the stops on the short hedges and enjoying the ride.

"An overnight devaluation of the Chinese Renminbi pushed the exchange rate to more than seven per dollar for the first time since 2008 and spurred another sharp selloff, as the S&P 500 sank 3% for its worst one-day showing of the year.  The broad index saw its year-to-date gains whittled to 13.5%, and sits 6% below its July 26 highs

Treasurys ripped in near lockstep with yields declining 11 or 12 basis points across the curve and the 10-year falling to 1.72%, 35 basis points above its record close in July 2016. WTI crude fell back below $55 a barrel, while gold rose to $1,463 an ounce, its best close since May 2013.  The VIX finished above 24 and has nearly doubled in the last five sessions."