We’re on the home stretch, and 2023 has been a surprisingly good year for investors. Conservative assets have returned to form with a five per cent gain, while world shares have also been strong, returning almost 20 per cent, which is well above the long-term average. In contrast, the local sharemarket has been a notable laggard, with the NZX 50 flat with just two weeks to go. Looking ahead to 2024, there are some obvious positives, such as the prospect of further declines in inflation and potentially interest rate cuts. How might financial markets perform in the year ahead, are we out of the recessionary woods, and what should investors be thinking about for their portfolios?