2024 Global Market Outlook

Tectonic Shifts Create New Opportunities

Investors spent much of 2023 concerned about an economic slump that never really happened. But did we sidestep that risk entirely, or is it still lurking around the corner? Our experts share insights into the tectonic shifts that may dominate the year ahead. Discover what it could look like to manage risk and unearth opportunity in a murky economy.

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Seeing Through the Fog in Today’s Market

Find out what we’re seeing in today’s financial markets and where we think investors could take advantage.

MARKETS & ECONOMY

Watch: 2024 Global Market Outlook Webinar: Tectonic Shifts Create New Opportunities

Watch our senior investment leaders weigh in on the state of markets and the economy heading into 2024.

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MARKETS & ECONOMY

Read: 2024 Global Market Outlook: Tectonic Shifts Create New Opportunities

Read about the ongoing economic uncertainties investors are facing today and what they need to be prepared for ahead.

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Three Investment Themes

Take a closer look at key themes that could impact the economy and markets in the first half of 2024.  

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Summit Program

The Summit Program rewards you with exclusive benefits, including preferred access to lower-cost shares, closed funds, and more.

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T. Rowe Price Mutual Funds to Consider

Choose from our 3-, 4-, and 5-star Select Funds encompassing a broad range of asset classes.

High Yield Fund
(PRHYX)

3-star Overall Morningstar Rating™ out of 607 high yield bond funds as of 2/29/2024.*

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International Discovery Fund (PRIDX)

4-star Overall Morningstar Rating™ out of 120 foreign small/mid growth funds as of 2/29/2024.*

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Find more highly rated performers

Over 60 of our funds have earned a 4- or 5-star Overall Morningstar Rating™ as of 2/29/2024.*

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Morningstar RatingsTM are based on risk-adjusted returns. Click on “Overall Morningstar Rating” for the fund’s 3-, 5-, and 10-year (if applicable) Morningstar RatingsTM.

All funds are subject to market risk, including possible loss of principal.

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Our investment and financial professionals give you firsthand insights and guidance on markets to help inform your investing journey.

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Past performance cannot guarantee future results.

All investments are subject to market risk, including the possible loss of principal.

Fixed income securities are subject to credit risk, liquidity risk, call risk, and interest rate risk. As interest rates rise, bond prices generally fall.

International investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments. These risks are magnified in emerging markets.

*Morningstar gives its best ratings of 5 or 4 stars to the top 32.5% of all funds (of the 32.5%, 10% get 5 stars and 22.5% get 4 stars) based on their risk-adjusted returns. The Overall Morningstar Rating™ is derived from a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) Morningstar Rating™ metrics. As of 2/29/2024, 62 of 153 of our Investor Class funds (excludes funds not available for direct purchase) received an overall rating of 5 or 4 stars.

The Morningstar Rating™ for funds, or "star rating," is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

Source for Morningstar data: ©2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

202312-3272435

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Questions? Call us at 1-800-332-6161

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The funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. T. Rowe Price Investment Services, Inc., distributor, T. Rowe Price mutual funds and T. Rowe Price ETFs.

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