What's Hot What's Not: Commodities and Asia Hot; India, US, and Bonds Are Not [Sector Edition]

Fri 30 Jan 2026

By Brian Dennehy

Access Level | public

What's Hot What's Not

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What’s Hot

·         Gold was hot, but most metals made progress, pushing up the whole Commodity sector

·         Emerging markets, Asia ex Japan and China made very steady progress to start the year

·         It is good to see UK small caps showing at a sector level, but this needs to broaden out for a month or two before three cheers

What’s Not

·         India is the only major faller, down nearly 8%

·         None of the other sector falls are significant, more indicating expected drift in some areas, US and bonds

What’s Hot

Name

Last Month's Performance %

Commodity/Natural Resources

12.35

Global Emerging Markets

7.80

Asia Pacific Excluding Japan

6.55

UK Smaller Companies

5.49

China/Greater China

5.39


What’s Not

Name

Last Month's Performance %

India/Indian Subcontinent

-7.89

North America

-0.51

UK Gilts

-0.17

Global Bonds

-0.03

Sterling Corporate Bond

0.25

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What's Hot What's Not

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