Global equities are off to a flyer in 2024 as tech stocks lead the way
Global equities are off to a flyer in 2024 as tech stocks lead the way
10 Apr 2024
Global equities posted their best first quarter since 2019 ignited by an Artificial Intelligence boom and the continued resilience of the US economy despite stubbornly high inflation.
Meanwhile, data showed that the UK officially went into recession in the second half of last year.
Quarter in brief
- An ‘AI boom’ in February was the catalyst behind a widespread rally for global equities in Q1 2024
- Expectations remain for US and UK interest rates to be cut in 2024 subject to inflation reducing further
- The UK officially went into recession in the second half of last year but the magnitude of the decline was mild
- Corporate bond spreads continued on their downward trajectory over the quarter for both investment grade and high-yield bonds
- UK DB pension scheme funding improved thanks to yield rises in January combined with growth asset performance throughout the quarter