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US Consumer Spending: Resilient Today, Uncertain Tomorrow
Global Equity | Insight
Highlights: Sentiment surveys have shown notable caution about the economic outlook among US consumers. However, consumer spending has remained relatively robust despite higher interest rates. Resilient spending has challenged 2023/2024 recession forecasts and prompted Fed officials to move towards “higher-for-longer” interest-rate projections. Despite special factors that have supported the consumer in 2023, headwinds are growing.
Emerging market (EM) equities confronted a slew of challenges in the third quarter. From China’s unrelenting property market troubles to a powerful US dollar, escalating global bond yields, and a sharp 27% hike in oil prices, the waters were certainly rough. Nevertheless, the MSCI EM Index dipped by just -2.9% during the period, slightly beating
GW&K Global Equities Strategy Commentary – 3Q 2023
Global Equity | Market Commentary
The second half of 2023 kicked off with widespread gains across global small cap markets. Softer inflation readings, a more dovish tone from the European Central Bank, and surprisingly good US economic data were key catalysts in the strong performance of North America and Europe. Along with falling inflation, a strong labor market, and increased
Year-end is an excellent time to review your estate and financial plan. GW&K’s Wealth Strategist, Melissa Jacoby, shares year-end planning ideas that may offer meaningful tax-savings opportunities in her updated guide.