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Global financial markets posted mixed performance through mid-February with gains led by US equities. Bonds and commodities declined as investors positioned for moderating but persistent inflation and continued economic uncertainty. Equity market gains were led by US Technology & Cyclicals; European equities posted more moderate gains while Asian equities were mixed. Interest rates rose across most maturities as the Federal Reserve raised rates, while the US Dollar gained against most currencies. Commodities fell led by Platinum, Silver, Natural Gas, and Oil.
The HFRI-I Liquid Alternative UCITS Index declined -0.26% through mid-February. Comments reference performance figures as of February 20th, 2023