Morgan Stanley Outlook 2023: key considerations for Australian Investors – Alexandre Ventelon

2022 has been a difficult year for investors. If the year ended today, 2022 would be the first year that US stocks and long-term bonds are both down more than 10% in the last 150 years – and both markets are down much more than 10%.

Figure 1: Underperformance
in both bonds and equities is rare – 2022 was unprecedented