However, Mark Matthews, the bank’s head of research for Asia, believes that the decline will be “pretty modest”, and will only reach a terminal rate next summer. “Global growth is slowing, we’re not going to have a recession,” says Matthews. “At least as far as we can tell, we’re looking for the first cut in the US to be in May, then after that you can see [cuts in] July, September, and then two more next year.”
The next cycle of equity investing is here, and technology-related sectors will be the asset class to focus on for this decade, according to Swiss private bank Julius Baer.
Following a “turbulent year" in 2023, the bank expects 2024 to be guided by softer inflation and strong seasonality effects, which supported markets into a year-end rally in 2023. This in turn is supported by expectations that interest rates will be heading down.
