News & Insights
Here you’ll find our thinking and helpful insights on the latest developments in domestic and global markets.
Investment and Economic Snapshot March 2024
March delivered a robust performance for equity markets, concluding a strong first quarter of 2024.
Investment and Economic Snapshot February 2024
Global share markets maintained their strong performance into the new year, with several major equity markets reaching record highs in February.
Investment and Economic Snapshot January 2024
The global financial rally that characterised late 2023, experienced a slowdown as the new year commenced triggering a widespread sell-off in early January and mixed results across financial markets as the month progressed.
Global Market Recap - 2023
In this 2023 Global Market Recap, T. Rowe Price Portfolio Specialist Sam Ruiz, reflects on the events and trends that shaped the global equity markets throughout the year, and provides an insight into the market outlook for 2024.
Watch time: 3:20 mins
Investment and Economic Snapshot Year in Review 2023
Download our 2023 Year In Review to take a look back over the year that was in financial markets and read our outlook for 2024.
Investment and Economic Snapshot November 2023
Global financial markets experienced remarkable gains in November. Equities and fixed income stood out, driven by a shift in the market expectation favouring significant Federal Reserve rate cuts in 2024.
Investment and Economic Snapshot October 2023
In October, the ongoing market downturn that has marked the past quarter persisted. Bond markets faced significant challenges as stronger than anticipated U.S. economic data led to an increase in bond yields in the U.S. and several other major economies, including Australia. This sharp rise in yields had adverse effects on stocks and bonds which fell for the third consecutive month.
Investment and Economic Snapshot September 2023
September’s reputation for being a poor month for markets came to bear, leading to a widespread sell off in equities, bonds, real estate and listed infrastructure.
Investment and Economic Snapshot August 2023
Following strong performances in June and July, global financial markets experienced a downturn in August. Most major financial assets generated negative returns as investors became concerned about the risk of persistent inflation, which could trigger further tightening by the Federal Reserve. Additionally, a lack of significant Chinese stimulus for their sluggish domestic economy contributed to investor pessimism.
Investment and Economic Snapshot July 2023
Global financial markets improved in July, with most major financial assets generating solid returns for the second consecutive month. Asian markets, especially Chinese investable stocks, led the way with relatively strong returns. Emerging Market equities saw a boost in performance due to the Chinese rally. All other major regions posted positive returns in July, with Eurozone equities bringing up the rear, registering a small positive gain of 2.1%. U.S. stocks ended July positively as investors welcomed better-than-expected earnings and hoped for a soft landing for the economy amid cooling inflation and rising interest rates.
Global Market Wrap - July 2023
June proved to be a favourable month across all sectors and regions, largely influenced by what the market has dubbed the 'Magnificent Seven': Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta Platforms. These companies were significant contributors to the overall gains, accounting for almost 50% of the 14% market increase. Notably, the NASDAQ, heavily populated by these tech giants, achieved an impressive 32% year-to-date growth, marking the strongest first half of a calendar year since 1983. While these tech firms excelled, the market remained preoccupied with interest rates and inflation throughout the month.
Watch time: 3:12 mins
Investment and Economic Snapshot FY2022/23 In Review
In a year characterised by its unpredictability, markets have managed to deliver solid results in what has proved to be a better year for economies than broadly expected 12 months ago.
Investment and Economic Snapshot May 2023
Global financial markets deteriorated in May after a relatively strong start to the quarter. A shift in investor expectations for the path of the Federal Reserve funds rate, the resurfacing of US regional bank turmoil, debt ceiling concerns, and economic data disappointments all weighed on global assets this month.
Investment and Economic Snapshot April 2023
Global financial markets finished the month on a positive note. European bourses were at the forefront of the global equity rally with UK and Euro Area equities boosted by strong gains in their currencies versus the US Dollar. Meanwhile, Chinese investable and domestic stocks were in the red, dragging down the emerging markets equity benchmark. Within the commodity complex, the prices of both gold and oil ended the month marginally higher. However, most of the gains occurred in the first half of the month – on the back of the surprise OPEC production cuts. Iron ore - which is especially sensitive to Chinese industrial activity - was the main underperformer in April.
Global Market Wrap - March 2023
March was dominated by the collapse of Silicon Valley Bank, followed in quick succession by the collapse of Signature Bank and then Credit Suisse. Markets initially fell in response to this news, but quickly recovered once it became clear this wasn’t a systemic credit problem in the global economy. Towards the end of the month, the market rallied close to 6%, and for March overall global equities rose 3.2%.
Watch time: 2:58 mins
Investment and Economic Snapshot March 2023
The collapse of US regional banks Silicon Valley Bank, Signature Bank, and European heavyweight, Credit Suisse, dominated the headlines this month, sending shockwaves through financial markets fearful that many more bank failures could follow.
Markets fell in response before staging a sharp recovery late in the month once it became clearer that the situation was contained.
Global Market Wrap - February 2023
February was a weaker month for equity markets, with inflation, geopolitical tensions and China all adding pressure to markets.
This month also saw earnings season conclude in the US and Europe. For Europe, it was a better than anticipated profits result season. However, the US saw earnings contract for the fourth quarter, with a number of US companies delivering their worst quarterly earnings results since the fourth quarter of 2009 in the GFC.
Most sectors and regions fell this month, with the market starting to get signs that China’s reacceleration and growth might not be as fast as expected. As a result, commodity prices were weaker this month.
Watch time: 2.58 mins
Investment and Economic Snapshot February 2023
In stark contrast to January’s positive start to the year, February proved to be a stern reminder that the current bear market may have further to run. Over the past few weeks, global bond yields have risen materially, amid concerns that better than expected economic data raises the risk that central banks will need to respond more forcefully with higher interest rates to keep elevated inflation at bay.
Investment and Economic Snapshot January 2023
The year kicked off in fine form, with all major market indices posting above-average returns this month. News that inflationary pressures were starting to wane in the US caught the attention of investors, triggering strong, speculative buying, with continued high hopes that central banks are nearing the end of their tightening cycles.
Investment and Economic Snapshot 2022 In Review
2022 was an extremely challenging and highly unusual year, with investors experiencing the longest bear market since the Global Financial Crisis. What made 2022 so unique was the fact that both global stocks and bonds fell by more than 10% after coming into the year with promising prospects.
Today, we view 2023 as a year when inflation will subside as monetary tightening runs it course and supply constraints ease from the pandemic. However, recent data suggests that it may still take a further 6-12 months before inflation is back to a level of 4%. The move from 4% to 2%, which many central banks are still targeting, will take longer as the labour market remains strong and shelter/rental inflation remains sticky.
Download our 2022 In Review to take a look back over the year that was in financial markets, and to read our outlook for 2023.