– Global equities were up modestly, and commodities rebounded. US Treasuries and Real Estate were flat.
– Small cap stocks continued their streak of weekly outperformance. Utilities were the only sectors to decline.
– Emerging markets closed lower on a 4% decline in China, making China is the second worst performing country in 2023.
– Gold prices closed the week at another new all-time high.
![World Wrap](https://www.cypresscapital.com/wp-content/uploads/Research/Reports/20231226-World-Wrap-pdf.jpg)