From Boom to Caution: The Q3 Market Review

Following a stellar performance in the first half of the year, Q3 painted a different picture. Global stocks faced headwinds, with MSCI World index marking a 3.4% decrease. Notably, the US equity arena bore the brunt, with the tech-centric Nasdaq Composite Index experiencing the steepest pullback at 3.9% for the quarter. However, its year-to-date performance remains robust at 27.1%. In an intriguing twist, despite abundant media attention on its real estate, China’s stock market declined by 1.9% in Q3, outperforming global equities, but it stands as the most underperforming equity market for the year so far. Source: Bloomberg, Syfe Research, Calculation based on total return, 31 September 2023  Navigating the fixed income territory in recent times has been challenging, especially with US treasuries and investment-grade bonds witnessing fluctuations across a range of quality and tenures. High-yield bonds stood firm...