In 2024, the return of bonds is set to be strong, signaling the normalization of Western monetary policies despite persistent geopolitical risks. Yields on US Treasury bonds have already risen, marking a shift in dynamics. Experts predict a positive year with moderate growth, emphasizing the importance of multi-asset strategies. However, they remain vigilant in the face of potential risks related to the financial burdens of global debt.
"The global economy will progress very moderately in 2024 (+2.5%), but will avoid a recession. It emerges unscathed from a scenario of shock in monetary policies, which often ends badly: the economic slowdown has not led to major accidents, giving central banks the flexibility to intervene if a further rate hike is necessary." Daniel Varela, Chief Investment Officer.
To read the full article published in Le Temps (in French), click here.