Global Markets Overview: July 2023

Macro volatility remains an important theme for 2023/24, supporting portfolio diversification:

• An equity-bond portfolio performed poorly in 2022 because inflation and real interest rates were higher than expected; we believe this remains a material risk in 2023/24, despite the year-to-date rise in equity prices.
• Many investors could still benefit from diversifying equity risk. Simple ways of doing so can include investing in hedge funds, alternative credit, and real assets.

Contact

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David Hoile

Global Head of Asset Research at WTW

David is the Global Head of Asset Research at WTW, responsible for economic and capital market research. He also is a member of the Investment Assumptions Committee, who help guide investment policy globally.

email Email phone +44 20 7170 2144

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