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2024 Perspectives: The year of the pause and the pivot

December 6, 2023 | 2 min read
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Key themes for 2024

  • Macro
    In 2024, expect challenges for the U.S. economy as resilience wanes amid rising household debt and job cuts. Global growth may slow, posing risks amid geopolitical tensions, but it could ease inflation pressures. Prepare for volatility, but also opportunities ahead.

  • Equities
    Entering 2024, central bank policy changes, rising government debt, geopolitical tensions, and consumer vulnerabilities will likely challenge equity markets. Active managers may find opportunities in overlooked sectors like energy and materials. Amid uncertainty, focusing on investing fundamentals is crucial.

  • Fixed income
    Despite 2023 ending on a strong note, 2024 brings expectations of economic slowdown. While inflation is likely to subside, higher borrowing costs will challenge consumers. Opt for high-quality, short-maturity yield assets amid a central bank rate pause.

  • Multi-asset
    Despite 2023’s surprises, 2024’s outlook is complex. Amid the uncertainty, strategic allocation and active management can create opportunities for investors in the year ahead.

  • Alternatives
    Alternative investments face challenges amid ongoing monetary policy measures. A potential U.S. recession and stricter banking sector regulatory oversight add complexity. However, opportunities do exist, and private equity, real estate, and inflation-sensitive assets may thrive in 2024.

Macro views
Asset allocation
Equities
Fixed income
Listed Infrastructure
Real estate
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