Dominated by markets’ reaction to slowing economic growth and inflation, 2023 was a year with plenty of challenges and conundrums from whether we would see a recession and plenty of talk about the direction of interest rates.

Despite these challenges, and thanks to the recovery we saw in bond and equity markets, our portfolios delivered healthy returns for investors in 2023. 2024 will likely be dominated by the market’s view of the pace at which interest rates will come down and whether central banks can achieve the so called ‘soft landing.

In our 2024 investment outlook we cover:

The economic outlook that markets are expecting and risks to this scenario

Where we see inflation and interest rates headed

What this is likely to mean for equity and bond markets

The longer-term outlook for investors