In a challenging September marked by global market declines due to higher interest rate concerns, geopolitical tensions, and the Fed's hawkish stance, investors are cautiously adjusting portfolios while keeping an eye on inflation and upcoming data points.

In August 2023, global markets faced bearish trends driven by rising bond yields, with notable impacts from China's economic challenges and the expansion of BRICS membership.

In July, markets experienced robust performance driven by lower inflation, positive economic data and strong tech sector returns, while geopolitical tensions persist.

June witnessed robust growth in US markets, geopolitical tensions globally, and South Africa grappling with headwinds.

May witnessed market volatility, AI enthusiasm, US debt ceiling concerns, and South Africa's economic struggles, with a global economic slowdown anticipated as central banks tighten policies.

April witnessed market focus on inflation and central bank rate hikes amid earnings season, with the US displaying optimism, contrasting with high fixed-income volatility.

March witnessed a macro shift from inflation concerns to financial stability, driven by a US regional bank liquidity crisis, triggering global market volatility. Central banks acted swiftly to restore calm.

February witnessed continued market volatility with Qtr4 2022 earnings meeting expectations but muted forward guidance. 

January 2023 marked a positive start for markets, reflecting optimism amid improving macroeconomic conditions, lowered inflation, and potential Fed rate pauses.