Quick Take
So far in 2023, risk-on assets have blown expectations out of the water, as Bitcoin and Ethereum have increased over 35% since the start of the year.
January has seen financial markets shift expectations that interest rate policy could ease with inflation softening.
In 2022, risk assets got crushed due to rate hikes increasing at the fastest pace ever.
Nasdaq, S&P 500, Gold, and TLT are all up year to date.
Significant currencies such as the euro, pound sterling, and Russian ruble are all up on DXY year-to-date.
Asset Performance YTD: (Source: Trading View)
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