 Deutche Bank is out with a note today reminding us that at this time last year, the market was pricing in 74 basis points of Fed hikes in 2022. It turned out far differently as an inflation hike showed the Federal Reserve and other central banks were way behind the curve.The sharp repricing led to a sell everything mentality save for assets that were saved by the Russia-Ukraine war. US dollar cash holdings beat nearly everything.The new year is starting off in much the same... 