The two assets investors buy for protection are the year's biggest losers, a first in any calendar year, so portfolios built on that hedge are carrying risk they were not priced for.
Bitcoin (-13%) and Gold (-6%) are the two worst performing major assets so far in 2026. This is something we haven't seen before in any calendar year. https://t.co/l5IYmkf6Ih https://t.co/zVB5NUWaUd
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