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10 Macroeconomic Themes for 2023

10 charts illustrate the macroeconomic trends we believe are most likely to shape the investment environment in 2023.

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January 27, 2023

Guggenheim Investments’ Macroeconomic and Investment Research Group identifies 10 macroeconomic trends likely to shape monetary policy and investment performance this year.

  1. Inflation Will Fall More than the Fed Expects
  2. The Unemployment Rate Will Rise from Historically Low Levels
  3. A Recession Will Start Around the Middle of 2023
  4. Strong Credit Fundamentals Will Limit Spread Widening
  5. Attractive Yields Will Drive Fixed-Income Returns
  6. High-Quality Fixed Income Will Outperform Equities
  7. Bonds Will Again Provide Diversification as Fed Wins the Inflation Battle
  8. Structural Housing Supply Shortage Will Limit Downside to Home Prices
  9. China Reopening Will Boost Energy Demand
  10. Divided Government and Narrow Majorities Will Spur Debt Limit Drama

Access Guggenheim Investments’ 10 Macro Themes for 2023 (PDF)
 
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