As we transition from 2023 to 2024, we look to what may be ahead. We identified 10 macro themes across global economics and investment strategy. Rate cuts from the Fed, the European Central Bank and other central banks that we expect in 2024 are a key driver of many of these themes. Cuts should help emerging markets and some commodities in particular. But there’s some debate among strategists about whether slowing growth may weigh on markets in the first half of 2024, thus our outlook for equities is mixed.