Japan's December money supply growth rate slowed down. M2 year-on-year growth was 1.7%, down from 1.8% in the previous month; M3 year-on-year growth was 1.1%, down from 1.2%. This slowdown may reflect subtle changes in the Bank of Japan's monetary policy, and it is worth paying attention to the monetary trends of major global economies—after all, the liquidity environment in the US, Japan, and Europe directly affects asset allocation patterns, including the performance of major asset classes such as digital assets.