2023 has not played out as expected at all. We were expecting the US to enter recession, but the US [recorded] about 5% growth in the third quarter... We were expecting the Chinese post-Covid reopening to boost its growth and fuel global inflation, but a year after its zero-Covid measures... China is suffocating due to unexpected deflation and a worsening property crisis. We were expecting last year's negative correlation between stocks and bonds to reverse as recession would boost bond appetite but batter stocks. None of that happened.
Global financial markets confounded gloomy expectations in 2023. Stocks rallied, and bonds reversed heavy losses made early in the year... US policymakers would achieve an economic soft landing.
#financial-market #stock #bond #us-economi #msci-world-index #artificial-intellig #china #european-economi
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