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Monthly financial markets outlook | October 2023

2022 concerns reemerged during the third quarter. The third quarter proved to be challenging as worries about sticky inflation and the potential for extended periods of higher interest rates, which had been less prominent earlier this year, resurfaced.

The improved sentiment, coupled with better-than-feared US companies’ earnings reports, bolstered risk assets and led to strong performances in equities, high yield credit, and property markets. In the US, the equity rally expanded beyond the previously leading sectors to encompass segments that had lagged during the first half of the year. However, yields were mixed as investors reevaluated the potential timelines for pivotal decisions by central banks.

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