Macro Insights Q4 2023

Macro Insights: Fisher Investments’ global macro perspective in charts

We believe this young bull market cycle will continue and economic conditions, while slower, remain better than resurgent negative sentiment implies. In a slow-growth economy with widespread fears over a potential recession and higher interest rates, high-quality all-weather growth equities are likely to lead markets. Excessive investor pessimism is typical of an early bull. The tailwinds of falling global inflation, improvement in corporate earnings growth and global political gridlock likely lead to continued positive surprise and strong equity returns going forward.

Investing in financial markets involves the risk of loss and there is no guarantee that all or any capital invested will be repaid. Past performance neither guarantees nor reliably indicates future performance. The value of investments and the income from them will fluctuate with world financial markets and international currency exchange rates.

Fisher Investments Ireland Limited, trading as Fisher Investments Europe, is authorised and regulated by the Central Bank of Ireland (CBI), and is wholly owned by Fisher Asset Management, LLC, trading as Fisher Investments (FI). Fisher Investments Europe delegates portfolio management to its parent company, FI.