The expression ‘Santa Rally’ is often used when referring to when financial markets
experience a positive run before Christmas and as we approached the end of 2023 the use
of it was certainly appropriate. The figures in the table above belie the extent of the rally, as
when one combines the returns from November, we had double digit, or near double digit,
returns in many markets. As an added bonus, returns which had, in the earlier part of the
year, been generated from a narrow set of asset classes such as Technology related stocks
in the US, continued to be generated from a wider range of asset classes.
Find out more in our January Investment Update.