December Market Digest 2023

Below are some key highlights from what happened in markets in Q4 2023:

• All asset classes performed strongly over Q4 2023 as positive sentiment drove equity and bond prices higher. Global equities generated 6.3% over the quarter and ended the year up over 15%.
• Better than expected inflation data from the US, UK, and euro-zone, as well as talk of rate cuts from the Federal Reserve, helped support the asset rally. UK inflation fell by 2.8% to 3.9% in the three months to November.
• The Bank of England held interest rates level at 5.25% throughout the quarter.
• Given these market conditions, portfolios generated a positive absolute return over the quarter.

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