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Article | Global Markets Overview

Global Markets Overview: December 2021

By David Hoile | December 23, 2021

Tracking recent asset price moves and our outlook

A summary of financial market performance over the last 12-months

  • The performance of different credit markets has been mixed; high yield bonds and bank loans in the U.S. have been the strongest performers in the last 12-months.
  • World equity returns have been high as earnings have recovered; the U.S. has been the top-performer in the major markets, driven by mega-cap tech stocks.
  • Central bank guidance has become more tilted towards increasing policy rates, especially in the U.S. and U.K., in the face of above-target inflation and robust growth. Consistent with this, the Bank of England raised its official rate to 0.25% in December – two months earlier than our forecasts; the Federal Reserve announced it will most likely stop its asset purchase programme in March 2022 – in-line with our forecasts.

To stay up-to-date and receive additional special feature reports from Willis Towers Watson on global capital markets, please contact David Hoile.

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Global Markets Overview: December 2021 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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