Q3 2023
Novi Wealth Partners / Quarterly Market Review / 2023 Q3
October 31st, 2023
The Q3 2023 Market Review shows a generally negative performance across global markets. U.S. stocks declined by 3.25%, while international developed and emerging markets also experienced losses. Growth stocks outperformed value stocks within large caps, though value stocks outperformed in small caps. Real estate investment trusts (REITs) in the U.S. and globally posted significant declines, and fixed-income markets saw rising interest rates across the board, particularly in long-term U.S. Treasury bonds. Commodities performed well overall, with a 4.71% return, driven by energy products like Low Sulphur Gas Oil and Heating Oil. The report also emphasizes the cyclical nature of value stock performance, noting that after periods of underperformance, value stocks have historically rebounded to outperform growth stocks in subsequent quarters. This reinforces the importance of a disciplined, diversified investment strategy.