Fidelity Director of Global Macro Jurrien Timmer checks in with his weekly discussion on macro themes moving the markets and what trends and topics he has on his radar. As 2023 winds down, Jurrien highlights scenarios investors might face in the New Year and what types of questions are on their minds. He takes a look at different scenarios throughout history pointing out in this particular economic cycle we’re in, the cycle has been quite unusual as we have had twenty-two months of sideways performance. The gains have been quite modest compared to every other start of a bull market. From his charts, Jurrien says the outlook is unclear. He highlights that we do not know if it will be a hard landing or a soft landing. If we get a hard landing, historically, a lot of it has been priced in and will have little effect on the market. Data suggests a soft landing, but again, it is hard to say. Jurrien also discusses the next steps of the FED, will they continue with its tightening, is it done cutting rates, and are there any assets they are trying to get rid of.

Recorded on November 27, 2023.

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