News & Insights

The year 2024 ended with a mixed quarter for financial markets, a quarter during which President Trump was elected as US President for a second time.

US equities reacted positively to this news initially but came under pressure towards the end of the year as cautious comments from the US Federal Reserve dampened interest rate cut expectations for 2025. Despite the year-end mini-correction, 2024 was another excellent year for global equity investors.

For 2024 as a whole, financial markets were supported by interest rate cuts across most of the developed world as inflation rates fell back towards central bank target levels. Nominal returns for private client investors will have been above the long-term averages for the second year in a row.