05 Oct VIEWPOINTS OCTOBER 2023
TAKING THE UNDER
Global equities were roughly flat over the past month against a flattish backdrop for interest rates, with non-U.S. equity markets trailing due to a strengthening of the U.S. dollar. U.S. large cap growth stocks continued to outperform, masking softness in value and small caps when looking at broader indices. Investor optimism remains on display in the U.S. for both earnings and valuations. Earnings estimates continue to edge higher – now equating to roughly 12% growth in 2024 and 2025, while the forward P/E multiple sits at an elevated 19x…
Read the full article here: Viewpoints October 2023
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