全球市场快照（英）

January 2026 Contents PitchBook Data, Inc. Overview3 Nizar TarhuniExecutive Vice President,Research and Market Intelligence Equity markets4 Debt markets6 Daniel Cook, CFA Sr. Director, Global Head ofQuantitative Research Real estate8 Zane Carmean, CFA, CAIADirector, Quantitative Research Appendix9 Institutional Research Group Analysis Miles OstroffAssociate Quantitative Research Analystmiles.ostroff@pitchbook.com pbinstitutionalresearch@pitchbook.com Published on February 2, 2026 Overview Note: Three-year returns are annualized. Equity markets Equity markets Debt markets Debt markets Real estate 1/31/2026 Nizar Tarhuni Executive Vice President of Research andMarket Intelligence PitchBook providesactionable insightsacross the globalcapital markets. Daniel Cook, CFAGlobal Head of Quantitative Research andMarket Intelligence Zane Carmean, CFA, CAIADirector of Quantitative Research Additional research: Q1 2026 PitchBook Analyst Note:2026 IPO Outlook for US VC Report created by: Download the reporthere Miles OstroffResearch Analyst Jenna O’MalleySeniorGraphic Designer Q1 2026 PitchBook Analyst Note:Sink or Swim: IntervalFunds Liquidity Learn more aboutPitchBook’s InstitutionalResearch team. Download the reporthere Clickherefor PitchBook’s report methodologies. PitchBook Insightsis an online compendium of in-depthdata, news, analysis, and perspectives that shape the privatecapital markets. PitchBook subscribers enjoy exclusive access to acomprehensive suite of private market insights, includingproprietary research, news, data, tools, and more on thePitchBook platform. COPYRIGHT © 2026 by PitchBook Data, Inc. All rights reserved. No part of this publication may bereproduced in any form or by any means—graphic, electronic, or mechanical, including photocopying,recording, taping, and information storage and retrieval systems—without the express writtenpermission of PitchBook Data, Inc. Contents are based on information from sources believed to bereliable, but accuracy and completeness cannot be guaranteed. Nothing herein should be construed asany past, current or future recommendation to buy or sell any security or an offer to sell, or a solicitationof an offer to buy any security. This material does not purport to contain all of the information that aprospective investor may wish to consider and is not to be relied upon as such or used in substitution forthe exercise of independent judgment.