GSB Quarterly Market Update – Q3 2023
17/10/23 Written by GSB
The third quarter of the year saw a reverse in fortunes for global equities, which had delivered stellar performance in the first half of the year. There was further progress on the inflation front, particularly
in the UK as we rapidly approach the peak of this interest-rate cycle, with central banks suggesting rates may stay higher for longer than anticipated, opening the door to compelling opportunities in fixed- income with yields at levels not seen since the 2008 financial crisis.
- Global equities had a mixed month with solid performance in the US and Japan. Meanwhile, UK and Chinese equities struggled.
- The share price of US tech mega-cap stocks soared this quarter and make up the bulk of the year’s gains in the S&P500.
- The battle against inflation continues and progress was made by the US and Eurozone. However, the UK continues to grapple with stickier inflation.
- The US opted to freeze interest rates to end the quarter, a welcome move as we see signs of global economies slowing and heading towards a potential recession.
In this quarterly market update, the financial events of the 3rd quarter will be discussed and insights into what investors can expect to see during the remainder of 2023 and beyond.
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GSB
GSB is built on a simple belief that everyone should gain from good financial investment, with the Company’s mission to create, protect, and grow wealth. But only in the most ethical and responsible ways possible. Headquartered in the Dubai International Financial Centre (DIFC), GSB is regulated by the Dubai Financial Services Authority (DFSA). Earlier in the year, the company launched operations in Geneva, Switzerland. And in July, the company received a Financial Conduct Authority (FCA) license to become directly authorised in the United Kingdom. The company plans to obtain permission to operate in Liechtenstein, which is regulated by the Financial Market Authority (FMA).