Foreword by CIO
We are pleased to share our Mid-Year Investment Outlook report for 2024.
Earlier this year, we discussed the potential for the US economy to extend its recovery from the depths of the pandemic in 2020. We highlighted that any decline in the S&P 500 would likely be limited, advising you to invest in secular themes like Artificial Intelligence during periods of market weakness.
Looking ahead, the Fed’s interest rate decisions remain a top-of-mind concern for investors. While inflation has lasted longer than expected, it is projected to fall as service prices soften. Combined with a cooling US labour market, this could lead the Fed to cut rates towards the end of the year. Unless a recession or financial crisis intervenes, this will also likely spur the next leg-up in risk assets.
Nonetheless, we can still expect sporadic market volatility due to ongoing geopolitical tensions around the world, as well as the upcoming US elections. History tells us that such event-driven volatility tends to be short-lived, and often presents buy-on-dips opportunities for investors.
Our latest report includes in-depth insights into macro trends, asset class views and asset allocation strategies, equipping you with the knowledge to navigate the current investment landscape effectively.
It is also important to make tactical adjustments to your portfolios while keeping your long-term objectives in mind. I highly encourage you to speak with your Senior Client Advisor for tailored advice on managing your investment portfolio to capitalise on emerging market opportunities.
Here’s wishing you continued success in the second half of the year and beyond.
Dr Neo Teng Hwee
Chief Investment Officer
UOB Private Bank
Learn More
Report
Late-Cycle Interest Rates; Mid-Cycle Economy
Dive into our investment outlook report for comprehensive analysis on macro trends, asset class views and asset allocation strategies.
Podcast
Investment outlook for the rest of 2024
Discover the key economic factors shaping the current investment landscape and how they may evolve throughout the year.
The Business Times correspondent, Howie Lim, speaks to Dr Neo Teng Hwee to get more insights.
Article
The Business Times’ Interview: Inflation and US elections to shape market dynamics
The convergence of Fed policy, shifting geopolitics, and AI are the major structural forces shaping the financial markets in the second half of 2024.
In this interview with The Business Times, Dr Neo Teng Hwee addresses what’s top of mind for investors.
Things you should know
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The information contained in this publication (and any articles, materials or video content relating to this publication), including any data, projections and underlying assumptions, are based on certain assumptions, management forecasts and analysis of known information and reflects prevailing conditions as of the publication date of the relevant materials or content, all of which are subject to change at any time without notice. Although every reasonable care has been taken to ensure the accuracy and objectivity of the information contained therein, United Overseas Bank Limited ("UOB") and its employees make no representation or warranty of any kind, express, implied or statutory, and shall not be responsible or liable for its completeness or accuracy. The views expressed in this publication (and any articles, materials or video content relating to this publication) are solely those of the authors', reflect the authors' judgment as at the relevant date of publication and are subject to change at any time without notice. As such, UOB and its employees accept no liability for any error, inaccuracy, omission or any consequence or any loss/ damage howsoever suffered by any person, arising from any reliance by any person on the views expressed or information contained in this publication (and any articles, materials or video content relating to this publication).
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