2024 Outlook

Updated January 9, 2024

A pivotal year for the
economy and markets

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Key takeaways

Wells Fargo Investment Institute anticipates a continued global economic slowdown, followed by a gradual U.S.-led recovery in the latter part of 2024.

We expect global earnings to be challenged in early 2024 before rebounding later in the year as the economy reaccelerates.

In equities, we prefer U.S. large caps over mid caps and small caps, and we favor developed-markets over emerging-markets.

We expect U.S. Treasury yields to remain volatile in 2024, declining early on as the economic slowdown gathers momentum, but rising as the recovery evolves in the latter months of the year.

Top five portfolio ideas for 2024

Top five portfolio ideas for 2023

Asset class guidance

Asset class guidance

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