I recently received a list of links to excellent economic and investment 2023 outlook reports from top investment banks and asset managers. It’s amazing that these organizations are now sharing these reports, which were previously only accessible to their institutional clients!
The reports provide a measured outlook for 2023. The global economy is expected to experience slow growth globally, with projections from some banks ranging around 1.8%. The US is predicted to just avoid a recession, whereas the Euro area and the UK will likely experience a mild recession due to the influence of escalating energy costs. Inflation is projected to dwindle to 3% in late 2023 in the US, and the Federal Reserve is expected to raise interest rates by 125 basis points to reach a peak of 5-5.25%.
The investment outlook for 2023 is expected to be characterized by a new phase of increased macro and market volatility – a “great reset”. This is likely to result in higher bond yields and ongoing pressure on risk assets, including tech public equities, startups, and venture capital. In such an environment, investors are advised on pricing the new normal, rethinking their approach to bonds, and living with inflation.
Here is the list of links to the reports (in no particular order):
- Goldman Sachs https://lnkd.in/eKzF_2K4
- J.P. Morgan https://lnkd.in/eHb6-622
- Morgan Stanley https://lnkd.in/e2nAMjmM
- Bank of America https://lnkd.in/e8XFD8TW
- BlackRock https://lnkd.in/eYxCBRGj
- HSBC https://lnkd.in/eNfBiJvH
- Barclays https://lnkd.in/eRT4dsFY.
- NatWest https://lnkd.in/euftbUw6
- Citi https://lnkd.in/eXwA-Y4X
- UBS https://lnkd.in/exudCU6V
- Credit Suisse https://lnkd.in/e4CEK5NZ
- BNP Paribas https://lnkd.in/ec4hWEdm
- Deutsche Bank https://lnkd.in/eAWCSV_7
- ING https://lnkd.in/eNpdmVH8
- Apollo Global Management, Inc. https://lnkd.in/ewwq_62M
- Wells Fargo https://lnkd.in/euMkQnKE
- BNY Mellon https://lnkd.in/ezMfVgND
- Fidelity International https://lnkd.in/eJwK6tVx
- Lazard https://lnkd.in/eku-xhqp