Quarterly Market Review & Outlook Q4 2023

As 2023 draws to a close, we look back over yet another eventful year. While 2022 was marred by the second global bear market in just three years, 2023 started as it meant to go on. Global equity markets continued their ascent from the October ’22 bear market low, with the MSCI World rebounding 33.85%. Most indices finished the year strongly higher, as shown in Chart 1, and the S&P 500 closed just 0.5% below its 2021 all-time high; an outcome only few others deemed possible going into the year.

Click here to view our Q4 2023 Market Review & Outlook in full, where the team also discuss topics such as equity markets continuing to rally after breakeven, an update on inflation, the end of the earnings recession and the potential impact of forthcoming geopolitical factors in the year ahead.

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