‘Quiet-Quitting’ of US Assets Fuels Fresh EM, Gold Bets

TCW’s Koch Sees ‘Marginal Move Away’ From US Treasuries

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By Matthew Burgess and David Feliba

January 23, 2026 at 4:13 AM UTC

Updated on

January 23, 2026 at 9:59 PM UTC

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Emerging-market assets and precious metals are extending a storming start to 2026 as tensions between the US and Europe weigh on the dollar and re-energize diversification flows around the world.