According to @KobeissiLetter, global stocks, commodities, government bonds, and credit delivered a combined +50.7% return in 2025, the strongest since 2009. Source: The Kobeissi Letter, Twitter, Jan 5, 2026. According to @KobeissiLetter, the MSCI All-Country World Index (ACWI) returned +22.3% in 2025, its best year since 2019, while the Bloomberg Commodity Index gained +11.1%, its strongest performance since the +27.1% rally in 2021. Source: The Kobeissi Letter, Twitter, Jan 5, 2026. According to @KobeissiLetter, the Bloomberg Global Aggregate Credit Total Return Index rose +10.5% and the Bloomberg Global Aggregate Treasuries Total Return Index gained +6.8% in 2025. Source: The Kobeissi Letter, Twitter, Jan 5, 2026. According to @KobeissiLetter, 2025 was the first year since 2019 when world stocks, bonds, credit, and commodities all finished positive. Source: The Kobeissi Letter, Twitter, Jan 5, 2026. For crypto traders, these broad cross-asset gains reported by @KobeissiLetter provide macro context to monitor when positioning BTC and ETH, without implying a directional signal by themselves. Source: The Kobeissi Letter, Twitter, Jan 5, 2026.