MIDYEAR OUTLOOK 2024
Still waiting for the turn.
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As we reach the halfway point of 2024, a sense of persistence defines the economic and market landscape. Trends from late 2023 have continued, with surprisingly resilient economic growth mixed with stubborn but decelerating inflation. Equity markets have thrived and regained all the lost ground from 2022. On the other hand, the bond market still grapples with policy uncertainty and remains range bound for the most part.
While it’s tempting to forecast a continuation of these trends, our analysis suggests an impending shift. The economy looks poised to cool down in the second half, which will have an impact on both policy and markets.
To navigate this evolving landscape, we leverage the expertise of our Strategic & Tactical Asset Allocation Committee (STAAC), which identifies potential risks and opportunities. In today’s higher-rate environment, the STAAC believes investors have more options. By prioritizing income generation and remaining patient and disciplined with equities, investors can navigate the upcoming potential uncertainty with continued success.
No matter what the markets and economy throw our way, we remain committed to providing the best possible guidance. It’s a privilege to be in this role, and we truly appreciate the trust and confidence you continue to place in us.
