Global Bonds - worst drawdown ever

US Bonds - 3rd worst Q1 since the Civil War

US Yield Curve - greatest Q1 flattening ever

Commodities - best start to a year ever

Oil - best start to a year since 1999

Regular Gasoline (at-the-pump) - fastest rise ever to record highs

US Stocks - 3rd biggest short-squeeze rebound in March since Lehman after worst start to a year for stocks since 2009 (2nd worst in over 30 years)

Ruble - stronger against the dollar in March after ugly Jan/Feb

Across the major asset-classes, gold outperformed with stocks and bonds ugly...

While all global stocks bounced in the 2nd half of March, Chinese stocks suffered the most in the quarter (China Tech -21% in Q1, worst since 2008), followed by Europe and then US...

In US equity-land, Trannies ended Q1 unchanged while the Nasdaq ended down around 8%, despite March's surge higher. This is the 2nd worst start to a year for stocks still since 2008 (with only the COVID crash worse)