Investing in 2023: yields on bonds are back, shares up only at the end of the year

A first balance sheet of the year that is about to end: double-digit losses on shares, bonds and current accounts

The annus horribilis of Italian savers (and others) is about to end. An initial, still partial balance of losses indicates a fall in the value of long-term bonds of around 20%, with peaks of up to 30% for more speculative and longer-term bonds. Double-digit losses were also recorded by share lists, with the Ftse Mib of large Italian capitalizations down by more than 10% at the end of November (but the Star index of quality stocks even dropped by 23%), while the largest index European equities, the Stoxx600 is down by 9.3%. Huge losses on world stock exchanges, starting with the Msci World stock index, which fell by 17.5% (in dollars) since January, while Frankfurt (-9.37%), Paris (-5.79% and Madrid (-4 ,02) recorded more contained falls.The Chinese indices also performed extremely badly, with Shanghai down by 13.42% and the US, where the Nasdaq left 26.9% of its capitalization on the ground and the S&P500 14.3% (but the Dow Jones loses only 4.8%.
And if the palm of the destruction of wealth goes to the Moscow Stock Exchange, for obvious reasons it fell by 42.5% and some stock markets are resisting in positive territory: London with a small but significant +2.55% since January, Mumbai, in India, with a +8.32% and São Paulo in Brazil with an increase of +7.03%.
Even savings left in current accounts or savings accounts have been decimated – silently. Against a remuneration for liquidity ranging from zero to about 2 percentage points (barring better offers with rather long investment constraints) the increase in the cost of living, which stopped in November at 11.8% in Italy and around 10% in Europe resulted in a loss (in terms of purchasing power) of almost a thousand euros for every 10 thousand euros left in the account.

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