October 03, 2023

Performance Insights – October 2023

Monthly report

Stock rally sputters in Q3 as hopes for early rate relief evaporate

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Global stocks ended Q3 in retreat, trimming year-to-date advances, as central banks (led by the Fed) vowed to maintain their fight against inflation, dampening hopes for a policy pivot any time soon and eroding ‘soft landing’ optimism. Energy and financials were among a few industries to make a positive contribution, while defensives and growth-tilted sectors suffered the biggest declines.

Key highlights:

  • Global Asset Classes – ‘Soft landing’ optimism fades
  • Global Equities – UK and Japan fare best; US small caps suffer major sell-off
  • Industry returns – Energy stocks ride the oil-price boom
  • Alternative Indices – Broad underperformance
  • Factor performance – Value takes the prize
  • Foreign Exchange – US dollar regains footing

This report provides actionable insights on global performance across asset classes, regions, currencies, industries and styles, using proprietary month-end data from our flagship index families.

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Global financial markets outlook

Indrani De

CFA, PRM, Head of Global Investment Research

Mark Barnes

PhD, Head of Global Investment Research, Americas

Join our webinar for analysis on the global macro backdrop, equity and fixed-income markets, and cross-asset comparisons with members of our Global Investment Research team who will examine financial market drivers, including:

  • Growth, inflation, monetary policy expectations and financial conditions
  • Deep dive into various equity markets
  • Factor rotation
  • Credit markets
  • Alternative asset classes
  • The status of market sentiment

The discussion will draw upon key findings from our Performance Insights, Fixed Income Insights, Asset Allocation Insights and other reports, research papers and market commentary published shortly before this webinar.

Watch the webinar now external

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