We are pleased to share Midyear Outlook 2024: Still Waiting for the Turn, the semi-annual report that recaps where markets and the economy have been over the first half of 2024.
As we reach the halfway point of the year, a sense of persistence defines the economic and market landscape. Trends from late 2023 have continued, with surprisingly resilient economic growth mixed with stubborn but decelerating inflation. The stock market thrived in this better-than-expected environment, having regained all the lost ground from 2022, while the bond market continues to grapple with policy uncertainty and remains largely range-bound.
While it is tempting to forecast a continuation of these trends, the analysis suggests an impending shift. The economy looks poised to cool down in the second half, while volatility is likely to rise – changes that will impact interest rates and markets.
In this environment, we are suggesting investors prioritize bonds and remain disciplined when it comes to stocks, as the ride in the second half of 2024 could be bumpier. In our view, steps should be taken to bolster portfolios against a market that may be a bit less friendly in the latter months of the year. By prioritizing income generation and remaining patient and disciplined with stocks, we believe investors can successfully navigate the upcoming potential uncertainty.
These are just some of the insights you’ll find in Midyear Outlook 2024. Combined with guidance from your advisor, we will help you navigate upcoming turning points and work toward achieving your goals.
Wishing you a safe and enjoyable summer.
Read Midyear Outlook 2024: Still Waiting for the Turn online, or download a PDF.
