With the last days of spring dwindling, the equity market is playing defense and bonds are again taking wing. The proximate causes include fresh worries that a rough patch or worse has descended on the economy and that the debt crisis in Greece threatens wider trouble. One sign of distress is the S&P 500, which is trading just above its 200-day moving average as of Friday. A thin 1% buffer now prevails, the smallest margin since last September. “If you feel you’ve seen this before, well, you have,” Laszlo Birinyi of Birinyi Associates tells The New York Times. “The market is in a correction — but so what? We’ve had about five corrections of one kind or another in this bull market. It’s not the end of the world.” Survival, however, is getting complicated. The Economist warns that’s it’s still premature to underestimate politicians’ capacity for turning “a temporary softening of the global recovery into something worse.” Meantime, here’s a broad summary of how the major asset classes are faring recently amid all the uncertainty via proxy ETFs through Friday’s close: