2024 Outlook: multiple transitions ahead?

The year 2023 was difficult, with China’s economic recovery falling short of expectations, the US 10-year Treasury bond yield hitting 16-year highs, and inflation remaining stubbornly high. “However, the global economy stayed resilient in the face of aggressive rate hikes and rising tensions in the Middle East,” observes Eastspring Investments in its 2024 Outlook.

For next year, the asset manager sees multiple transitions. “Some of the global economy’s earlier resilience will give way as the full effect of restrictive monetary policy kicks in,” says CEO Bill Maldonado.

For China, however, the tables seem to have turned and the economy will likely stabilise in 2024, according to Maldonado.

Read the complete Market Outlook 2024 at www.eastspring.com/lu.