In January, gold exchange-traded funds (ETFs) recorded net inflows of 34.5 metric tons, according to the World Gold Council. Additionally, financial stocks experienced their largest weekly inflow since the Global Financial Crisis. Over the past 12 months, global investors have invested a record $520 billion into U.S. equities, surpassing the previous all-time high from 2021 by approximately $30 billion. In comparison, emerging market stocks attracted $220 billion in net inflows, which is 57% less than U.S. equities. January also saw total ETF inflows of $105.5 billion, with equities dominating the inflow categories, while fixed-income funds increased by 105% compared to the previous month. Furthermore, Bank of America reported the largest inflow to Europe in over two years.