– 2023 is off to a strong start for global equities and bonds with all major asset classes except commodities moving higher in the first two weeks of January.
– Healthcare and Consumer Staples were the only two sectors that did not participate in the market’s advance.
– International equities are outperforming US Equities with both developed and emerging markets outperforming.
– Bitcoin rallied 17% last week and is up 19.5% since the start of the year.

– 2023 kicked off with a rally for risk assets, except for Commodities, which declined 6% on falling oil prices.
– Value stocks got off to a strong start, outperforming growth stocks substantially. Healthcare was the only sector to finish in the red for the week.
– German stocks advanced 5.3% driving developed international equity indices higher.
– Yields on 10Yr Treasuries fell while T-Bill yields rose, leading to the deepest yield curve inversion since the early 80s.