2023 Global Market Outlook: Navigating a Bumpy Landing

Across the world, 2022 has been an incredibly challenging year. Global economies are grappling with inflation, central bank tightening, and expectations of lower economic growth — each of which signals caution for investors. Looking to 2023, we expect market uncertainty and volatility to persist for some time, leading to a bumpy journey ahead with a wide range of possible outcomes. We anticipate more clarity will be achieved in 2023 as we see rates peak in much of the developed world, but what follows is anything but clear. 2023 will not be a straight path. Many risks to a sustained recovery remain.