January 2024: a good month for shares, after a hesitant start

January 2024: a good month for shares, after a hesitant start

Stock markets got off to a hesitant start in 2024, but gradually found their way to the upside as the month progressed. Government bond yields actually started the year higher, but declined again slightly towards the end of the month.

For investors, 2024 initially featured a reversal of the last quarter of 2023, with rising interest rates and generally falling share prices. But this picture already changed during January. Led mainly by US technology stocks, stock markets resumed their upward direction, while bond yields declined slightly towards the end of the month. On balance, European government bond yields were still slightly higher at the end of January than at the beginning of the year, showing a negative monthly return of 0.5%.

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