Pessimism dominated the markets like never before in 2022
More favourable base for 2023 for multi-asset investors than last year
Gold breaks out - in US dollars, but not in euros
EUR/USD rate back above parity, but not yet a turning point
"Gridlock" in US policy ahead – often positive for equity markets
Short-term, bear market rally more likely than sustained recovery
Supply shortage should support oil price
US central bank surprises hawkishly and puts markets under pressure
Better prospects for multi-asset portfolios
Back and forth in the bond market amid uncertain monetary policy