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Article | Global Markets Overview

Global Markets Overview: May 2023

By David Hoile | May 18, 2023

In this issue of Global Markets Overview, we examine current asset market pricing and positioning portfolios to minimize surprises.

Portfolio priorities for a surprise-free future:

  • Demand and supply conditions in the major advanced economies remain out of balance; inflation, interest rates, and growth are likely to remain volatile in 2023/24.
  • Asset market pricing implies a rapid fall in inflation to central bank targets, cuts in policy rates, and only a moderate slowdown in economic and corporate earnings growth. We think this understates the potential for higher than expected inflation, higher than expected interest rates, and/or lower than expected growth.
  • We believe diversity with downside protection and active management continues to be the best way to maximise the chance of investment success.
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Global Markets Overview: May 2023 PDF .3 MB

Global Head of Asset Research at WTW

David is the Global Head of Asset Research at WTW, responsible for economic and capital market research. He also is a member of the Investment Assumptions Committee, who help guide investment policy globally.

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