Morgan Stanley has labelled 2024 as the year of the hall pass after an unpredictable 12 months in the Australian market that caught many pundits off guard.
The Reserve Bank of Australia didn’t cut interest rates, China’s economic growth disappointed, ASX earnings growth all but disappeared, the Australian dollar hit a one-year low, and commodity prices weakened.
Source: https://www.afr.com/markets/equity-markets/the-10-biggest-surprises-to-wrong-foot-investors-this-year-20241217-p5kz1n