US 6.2%.
The American market – as the lowest performing region – climbed six percent in January despite discussions of recession picking up. Still, the market was positive because of a variety of factors, such as easing inflation numbers, strong job market reports and whispers of easing financial conditions based on the potential for less aggressive central bank policy.
Europe 6.7%.
European stocks increased a bit more than seven percent in January. A key driver of this performance is the expectation – or hope rather – that leading central banks will slow their interest rate increases, either in terms of actual tightening or a slower pace of tightening, which will create a more attractive business environment than currently.
Asia 7.8%, Emerging Markets 7.9%.
Both the Asian and Emerging Market regions were supported by a strong performance in China after ending it’s lockdown-heavy zero COVID policy, despite more muted performance in the days after being closed for Chinese New Year.