• Resilient US growth and slowing inflation led the markets higher in 2023, as central banks indicated a change in their policy stance.
  • 2024 started with rising bond yields, as markets reassess the extent of potential rate cuts.
  • Emerging markets may offer opportunities, thanks to their growth advantage and strong local consumption and trade dynamics.

Actionable Ideas

  • Emerging markets (EM) in search of higher growth potential
    On the back of strong earnings growth potential and domestic consumption, select EM in Asia (India and Indonesia) and Latin America offer potential opportunities in bonds and equities.

  • Multi Asset to widen the opportunity set
    At a time of divergences across economies and asset classes, investors may consider a balanced and diversified approach that includes bonds, quality credit in Europe and Emerging market assets.

Key Dates

8 Jan

EZ retail sales, China
CPI

 

11 Jan

US CPI, Bank of Korea
Monetary Policy

 

12 Jan

Japan and China trade
data, UK GDP, India CPI

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