The past couple of years have been interesting to say the least, with the economy navigating a sustained period of volatility, UK inflation at a 40-year high and increases in prices driving up the cost-of-living.

The steepest interest-rate-hiking cycle in decades has set global economic activity on a course that remains difficult to map, making it especially important to respect risks and to look to build portfolios capable of performing well in a variety of conditions.

Despite a resilient early start in 2023, the eurozone economy was weak through much of the year, and we anticipate that this fragility will persist in 2024