Global economic slowdown and, for some countries, outright recession in 2023
Around this time every year, we would be inundated with a deluge of broker reports outlining their outlook, focus and strategy for the new year. There will be predictions for the stock-bond markets and year-end targets for the relevant bellwether indices. Inevitably, almost every prediction will be wrong and the ones that come close can be chalked down to pure dumb luck. Case in point, this time last year, the consensus end-2022 target for the S&P 500 index was 5,265 — which is a hefty 32% above where we are right now.
The truth is, no one can consistently and accurately predict the future. But being consistently wrong has yet to deter anyone from trying. And, we have to concede, it feels good and is somewhat entertaining. Hence, we too will jump on the bandwagon and offer our own predictions for the coming year. Though quite frankly, given the magnitude of prevailing uncertainties, it is hard to see beyond the next few months. For followers of this column, this will be our last article for the year but, worry not, we will be back in 2023.
