It seems hard to believe, but we are already halfway through 2023, meaning it is time to look back on the events of the 2nd quarter in the financial markets after the encouraging start to the year we had in the 1st quarter. In comparison to the beginning of the year, the 2nd quarter was a mixed bag, with some areas of the financial markets performing strongly while others struggled to maintain the momentum that had been built over the last few months.
The first quarter of 2023 brought welcome relief to investors after a challenging year in 2022, with global equities starting the year off strongly despite significant turmoil in the financial sector. The collapse of Silicon Valley Bank and the increasing impact of heightened interest rates on the broader economy highlight the increasing likelihood of a recession as central banks try to fight inflation without stifling economic growth.
The year 2022 will go down as one to forget for investors however the fourth quarter provided some signs of optimism that 2023 could prove to be a positive year in the financial markets. In this quarterly market update, the financial events of the 4th quarter will be discussed and insights into what investors can expect to see in 2023 and beyond will be provided.
Private Banking is a subsection of the banking industry that caters to individuals and businesses that qualify for enhanced service and offerings through their high net asset base or income. External Asset Managers, also known as Independent Asset Managers (IAMs and EAMs, respectively), provide tailored asset management services to high net and ultra-high net worth clients.