Top-of-mind economic news as we start the week:
— 2023 was a banner year for U.S. stock markets, with the S&P up more than 24% and Nasdaq up 43%, on prospect of lower interest rates and inflation.
— U.S. Crude oil prices are down more than 10% for the year in first annual decline since 2020, despite escalated conflict in the Middle East.
— The yield on 10-year Treasuries is back down to 3.86%, essentially flat for the year after approaching 5%.
— India’s stock market is now the world’s 7th largest stock market, surpassing that of Hong Kong; India’s economy expected to grow more than 6% in 2024.
— China led the world by far in the installation of both solar and wind energy in 2023, with the U.S. attempting to catch up to Europe.
