Commentary
Markets closed 2023 with the strongest rally in years for equities, bonds, gold, and cryptocurrencies. The level of complacency was obvious, registering an “extreme greed” level in the Greed and Fear Index. The year 2023 was also an unbelievably bad year for commodities, particularly oil and natural gas, something that very few would have predicted in the middle of two wars with relevant geopolitical impact and significant OPEC+ supply cuts.
