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    ICM Monthly Outlook - December 2024

    • ICM
    • Dec 18, 2024
    • 1 min read

    Market Review


    Investors will look back on the 2024 US presidential election as a turning point for financial markets. Some sectors of the US financial markets have rallied like billyo since President Trump's re-election. Investors expect pro-growth policies, including tax cuts, deregulation, and increased fiscal spending. Investors have interpreted President Trump's re-election as a green light for risk-on, igniting a rally across equities, credit, and cryptocurrencies. In November, Global Developed Market equities increased by 4.5%, primarily driven by US equities. The S&P 500 rose 5.7%, the tech-heavy Nasdaq Composite climbed 6.2%, and the Russell 2000 index gained 11%. Financials, consumer discretionary, and small-cap stocks were also big winners, buoyed by expectations of deregulation, lower taxes, strong consumer spending, and optimism about Trump's domestic agenda. Since the election, high yield spreads compressed by 14bps to 2.74% from 2.88%. The tighter risk premium reflects growing confidence in a strong economy.


    Read the full outlook here: ICM Monthly Outlook - December 2024

     
     
     

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