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Global financial markets posted mixed performance through mid-March as investors focused on new inflation data and technology earnings. Equities posted mixed performance with technology & large-cap gains offsetting small-cap weaknesses; the energy sector led gains while cyclicals led declines. France, Spain, and China led regional gains. Interest rates increased across most maturities while the US dollar was mixed & little changed against most currencies. Silver, Copper, Oil, Cocoa, & Rubber led commodity gains, while Natural Gas and Wheat declined.
Hedge Funds posted gains led by Macro strategies, with the HFRX Global Hedge Fund Index gaining +0.61% through mid-March.

HFRX Macro Index gained +0.80% MTD.
HFRX Equity Hedge Index gained +0.71%
HFRX Event Driven Index gained +0.58%
HFRX Relative Value Index gained +0.43% for the month.

Comments reference performance figures as of March 18th, 2024