The New Year began inauspiciously, with global equity and bond markets falling in unison. Commodities proved to be a diversifier, benefiting from strong price gains, particularly in energy. The market downturn was driven by signs that major central banks are poised to reverse the monetary stimulus that has supported the global economy and capital markets during the coronavirus pandemic. Political tensions between the U.S. and Russia and rising Omicron rates in some countries also weighed on investors. While economic growth and corporate earnings surpassed expectations in 2021, rising inflation and interest rates, ongoing supply shortages, and an antagonistic geopolitical environment portend a more difficult year ahead.

RECENT INSIGHTS

February 8, 2024

· U.S. growth surprised to the upside through 2023 and continues to be on solid footing entering 2024, although vulnerabilities...

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January 12, 2024

Key Takeaways Global growth bested pessimistic expectations coming into the year and the widely anticipated recession of 2023 never came...

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December 8, 2023

· If U.S. investors were feeling anxious about global events it was difficult to detect, as big rallies in U.S....

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