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Market Research
According to PNB International Research, global growth is expected to slow as central banks navigate
According to PNB International Research, global growth is expected to slow as central banks navigate
According to PNB International Research, global growth is expected to slow as central banks navigate
As inflation slows, central banks worldwide must navigate a “Goldilocks” situation: If they ease monetary policy too much, inflation could spike again; but if they tighten too much, a recession could follow. As central bankers attempt to navigate this “soft landing” scenario, Morgan Stanley economists predict that their efforts will result in a trade-off: slower growth in both 2024 and 2025, particularly in developed markets. "Inflation has reached its peak around the world, but getting through this final phase won't happen until 2025 and is likely to require a period of below-par growth," says Seth Carpenter, global chief economist at Morgan Stanley. Our economists forecast global economic expansion will slow to 2.8 percent in 2024 and to 2.9 percent in 2025, down from 3 percent in 2023.
In an imperfect world, investors have to make difficult decisions, but they can find solace in fixed
According to PNB International Research, global growth is expected to slow as central banks navigate
According to PNB International Research, global growth is expected to slow as central banks navigate
In 2024, investors will need to be strategic and mindful of monetary policy in order to avoid a range of risks and opportunities in a world characterized by cooling but still-high inflation and decelerating global growth. Asset prices have already priced in the assumption that central banks will be able to manage a gradual transition to lower inflation—meaning there is little room for higher valuations. However, 2024 could be a favorable year for income investing. Morgan Stanley Research’s strategists point to “bright spots” in high-quality, fixed-income and government bonds across developed markets, among others. "Central banks will need to find a balance between tightening too much and easing too little,” Serena Tang, chief global cross-asset strategist at Morgan Stanley Research, says. “The challenge for investors in 2024 will be to find the right balance between tightening and easing.”
The Rise of Technology, Media and Telecom Credit Markets, Our Analyst Explains
According to PNB International Research, global growth is expected to slow as central banks navigate
The Rise of Technology, Media and Telecom Credit Markets, Our Analyst Explains
Each week, Andrew Sheets, global head of Corporate Credit Research, or one of his team members, provides insight into what’s driving the markets, as well as analysis of investment opportunities and risks across asset classes around the world. If you’re interested in hearing Andrew Sheets’ thoughts on the market, you can listen to it on iTunes, Spotify, and Google Podcasts, as well as other major podcast platforms.