Global equities have delivered strong returns this year, led by the tech-heavy US market. Both the US economy and the US earnings cycle have been better than feared. In this report, we discuss how these and other factors play into the investment market outlook for 2024.
11th Dec, 2023
Amidst a climate of heightened confidence, risk assets are rallying, underpinned by a broader improvement in global risk sentiment. Investors are increasingly optimistic that policymakers will orchestrate a soft landing in 2024, a sentiment that gains support from recent economic data releases.
4th Dec, 2023
US equities have staged a strong revival this month bouncing back to within 1% of their late July highs. A more benign macro outlook has been the primary catalyst for the bounce-back with recent evidence that the resilient US economy is cooling gradually.
27th Nov, 2023
Despite calls for structurally higher inflation, US headline CPI appears to be falling as fast as it went up. This should provide support for both fixed interest and equity markets over the coming year.
20th Nov, 2023
While a number of the world’s major central banks have recently hit the policy pause button (most notably the US Fed), the Reserve Bank of Australia lifted rates 25 basis points to 4.35% last week.
13th Nov, 2023
So far, 2023 is proving to be a year of 2 phases for global equity markets. Stocks generally rallied throughout the first 7 months of the year, despite bank turmoil weighing on markets in Q1, but this upward momentum has since morphed into a correction phase.
6th Nov, 2023
The September quarter’s above-consensus reading for both headline and underlying inflation materially increases the risk of a November rate hike next week, in our view.
30th Oct, 2023
Global inflation pressures appear to be easing despite a surprisingly resilient US economy and rising concerns over the global oil price. As we detail in this report, a continued easing in inflation should (all things equal) be supportive for both equities and bonds.
23rd Oct, 2023
While investors are intensely focused on the outlook for US economic growth and inflation, the strong revival from the US equity market over the past 12 months - alongside rising long-term interest rates - has thrown the spotlight back on global equity valuations.
16th Oct, 2023