How did the financial markets perform?
In the second quarter of 2023, stock markets and bonds performed unevenly. But in the eurozone, equities, bonds and cash all delivered similar returns of around 3% for the first time in a long time, despite different risk profiles. Over the first half of 2023, equities clearly outperformed bonds. In that context, US tech and other equities were the most popular, with returns well above 10%. Returns on Asian equities and emerging market equities were more in line with European bonds, at between 2% and 5%.