HSBC says the move will be underpinned if a soft landing is achieved and central banks ease policy:

  • “We expect global equity markets to climb higher and forecast 15% upside by end-2024,”
  • “But, against a backdrop of slowing economic growth and declining interest rates, we think market breadth will increasingly narrow, with a large proportion of the market treading water, while US supremacy will likely continue.”

HSBC base their view on their research showing where the Fed has pulled off a soft landing, the S&P 500 has rallied 22% on average between the pause in hikes, and six months after the bank’s begun cutting

  • favour tech & and consumer discretionary sectors


Not everyone is convinced:

shadow market