February 10, 2023

Performance Insights - February 2023

Monthly Report

Soft-landing optimism fuels ‘everything everywhere’ rally in January

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Global stocks, bonds and commodity markets catapulted higher in January as hopes for a downshift (or even a pause) in central bank rate-hiking cycles and China’s rapid reopening buoyed optimism for an economic soft landing. Easing bond yields and the weaker US dollar drove huge rebounds for many of last year’s worst performers (i.e., growth stocks) and sell-offs in defensives.

Key highlights:

  • Global Asset Classes – Easing recession fears drive cross-asset relief rallies
  • Global Equities – Europe and US lead the broad equity recovery
  • Industry Performance – Growth stocks back in favour
  • Alternative Indices – REITs and Environmental Opportunities rebound
  • Factor performance – Quality rides the tech revival
  • Foreign Exchange – US dollar continues to lose steam

This report provides actionable insights on global performance across asset classes, regions, currencies, industries, and styles using proprietary month-end data from our flagship index families.

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