PitchBook-全球市场快照 Global Markets Snapshot-2024.10.docx

GlobalMarketsSnapshot

October2024

Fallcooldowntakesshape

streaksnapped:Inoctober,usmarketsslippedintoamodestdecline,withthesp500postingitsfirstmonthlylosssinceApril,pressuredbyanend-of-monthpullbackinmajortechstocks.TheS.p500slippedby0.9%,bringingitsyTDgainto21%.TheNasdaq100alsoedgeddown0.8%,trimmingitsyTDreturnto19%.small-capequitiesfaredworse,withtheRussell2000down1.4%forthemonth,loweringitsyTDreturnto9.6%.Headlinepersonal

consumptionExpenditurecameinatexpectationsat2.1%yoy.

TheFederalReserveiswidelyexpectedtocutinterestrates25

basispointsonNovember7,followingitsinitial50pointcutattheendofseptember.

Internationally,theNikkei225wasabrightspot,gaining3.1%inoctoberandliftingitsyTDreturnto18.7%.Incontrast,theFTSE100declinedby1.5%,bringingitsyTDgainto8.3%,whilethe

MorningstarGlobalMarketsex-usindexdropped4.2%forthe

month,witha9.4%YTDperformance.chineseequitiessawa

steepdecline,withtheFTSEchinaA50down7.3%inoctober,

thoughstillup18.2%YTD.TheEuropeancentralBankcutratesby25basispoints,markingitsfirstback-to-backcutin13years.

Energytransition:capitalallocatorshaveacceleratedtheirinvestmentinenergytransitioninfrastructureoverthepastdecade,drivenbynet-zerocommitmentsandpressurefromstakeholderstodecarbonizeportfolios.since2014,fund

commitmentshavetotaled$892bilion,comprisingnearly80%ofallcapitalraisedbyinfrastructurefundsduringthisperiod.This

surgehasbeenfueledbysupportivegovernmentsubsidies,

favorablepolicyframeworks,andtechnologicaladvancements

thathavestrengthenedthereturnpotentialfortheseinvestments.

specialistfundsfocusedsolelyonrenewableandlow-carbon

assetshavematured,gathering$235.5billionincommitmentssince2009,withanaverageof$29.8billionraisedannuallyfrom2019to2023.

Theopportunitysetisexpanding,encompassingnoton