December Market Digest 2023

Market overview for Q4 2023 including update on asset class returns and outlook for 2024.

Below are some key highlights from what happened in markets in Q4 2023:

• All asset classes performed strongly over Q4 2023 as positive sentiment drove equity and bond prices higher. Global equities generated 6.3% over the quarter and ended the year up over 15%.
• Better than expected inflation data from the US, UK, and euro-zone, as well as talk of rate cuts from the Federal Reserve, helped support the asset rally. UK inflation fell by 2.8% to 3.9% in the three months to November.
• The Bank of England held interest rates level at 5.25% throughout the quarter.
• Given these market conditions, portfolios generated a positive absolute return over the quarter.

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