2023 Market surprises: Soft landings, new players, and India's global rise

In 2023, things turned out quite differently than what markets expected when the year began. Back then, many thought the US Fed would keep jacking up rates, and this constant rise would send the US economy into a tailspin, plunging it into a recession. But surprise, none of that happened.

As we waved goodbye to 2023, what we saw was the Fed doing a U-turn, aiming for a soft landing instead.

Most economists are predicting there is no recession, at least in 2024 for the US economy, and the possibility of a rate cut. So it's absolutely extraordinary the way the narrative has swung for the markets in 2023.