Skip to content

2023 Global Market Outlook

The Need for Agility

Elevated geopolitical risks, deglobalization, and changing market structures mean investors should be prepared for higher volatility; but agility can be a source of opportunity amid dislocation.

Guiyang's Famous Ancient Architectural Landscape

2023 China Market Outlook

We expect China's recovery to pick up. We believe investors should consider adding exposure to a well-balanced portfolio of Chinese stocks for 2023.


2023 Asia ex Japan Market Outlook

We believe that the 2023 outlook for Asia ex Japan equity markets is likely to be more promising and investors should be patient as many of the positive long-term trends of the region remain valid. 

Four Themes to Watch in 2023


An Economic Balancing Act

The risk of a global recession in 2023 appears elevated, as developed market central banks hike aggressively into slowing economic growth. However, markets may be overestimating the risk of a deep downturn. Read more...


Leaning Against the Wind

Earnings growth estimates for 2023 have started to fall but are still positive, suggesting negative earnings growth could be the next big issue for equity investors. Read more...


The Return of Yield


Rising rates have pushed yields in select global fixed income sectors to the most attractive levels in decades, which could offer strong return potential in 2023. Read more...


Deglobalisation in a Connected World

We are seeing a paradigm shift in the global economy that will shape the investment landscape for years to come. Read more...

Want to know more?

Browse our library for latest insights

Learn more about T. Rowe Price

Get in touch

Important Information

Investment involves risks. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested.

Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date of publication and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.