Markets Rebound in 'Everything Rally' Despite Recession Fears
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Global stocks rallied in 2023, confounding expectations of recession and earnings declines. The MSCI World index rose over 20%, led by mega tech stocks.
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Falling inflation and hopes of interest rate cuts sparked a late-year "everything rally." The Nasdaq 100 jumped over 50%, its best year since the dotcom bubble.
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Banking sector had mixed results as profits rose but bonds losses hit. Some lenders collapsed while others like Barclays and NatWest fell over 15%.
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Bond yields surged through most of 2023 before the biggest 2-month rally on record in Nov-Dec on rate cut hopes.
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Commodity prices volatile - oil ended modestly lower despite OPEC cuts, wheat fell over 20% but cocoa and iron ore gained over 50%.