Global Markets Overview is published and updated every month. This includes what has happened in markets, our macroeconomic outlook and price updates on assets such as government bonds, credit and equities.
In this Global Markets Overview:
Our global outlook at a glance
- As economies continue to rebalance, we encourage investors to position their portfolios to risk manage and exploit economic and policy differentiation.
- For 2024 and 2025, we prefer a balanced portfolio, with a higher weight to government bonds, equity alpha and other uncorrelated diversifying alphas.
- Risks around the growth outlook are tilted slightly to the downside in our view
- Bond markets are pricing policy rates to fall in 2024 – we agree. We expect interest rate volatility and government bond yields to fall this year. However, bond markets are also pricing very little difference in the size of central bank interest rate cuts across advanced economies in 2024/25 – we disagree. We expect there to be important differences in economic conditions, policy outcomes, and asset price moves across the major countries
- Stock concentration, valuation and dispersion supports active equities in 2024
See below to download the full publication, and previous editions.