Market Commentary December 31, 2023
Happy New Year and welcome to 2024! Global equity markets finished the year with a bang, posting a typical year’s worth of return in the last 60 days of the year. The S&P 500, Russell 2000 and NASDAQ all posted double digit gains for Q4 while non-U.S. equities underperformed on a relative return basis. The Federal Reserve’s pivot on monetary policy and subsequent decline in bond yields provided a perfect backdrop for risk assets across the capital market spectrum to rally back to almost record highs by year end.
