November market view
Focus is shifting from inflation to growth

After a gloomy 2022, the new stock market year has started significantly better − with gains of about 4% for America’s broad S&P 500 equity index and 7% for the Stoxx Europe 600 so far in January. The Swedish market has also had a strong start to the year, which we all welcome. US inflation has peaked and is now falling, while energy prices are lower in Europe − two important factors that have increased investors’ risk tolerance.
Focus is shifting from inflation to growth