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December 2023 Update

Making The News

Christmas came early for investors after US Federal Reserve chair Jay Powell gifted the markets a ‘dovish hold’. It was the biggest hint yet that the Fed could start to ease the squeeze by cutting interest rates early this year. US markets reacted by throwing a pivot party, with equity prices soaring and bond yields falling. The euphoria was contagious, with the MSCI All Country World Index — which tracks shares in 23 developed and 24 emerging markets – ended the month up strongly (i.e., +4,8% in Dec, +11,2% in Q4, and +22,2% in 2023).

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November 2023 Update
January 2024 Update