4/3/2024 0 Comments Boom boom boom memeIt was a choppy session from the start, but things really started to go downhill for Europe once the U.S. However, he adds that such an end point likely lies beyond 2022, given lingering COVID concerns, entrenched reflationary biases at central banks, and still behaving bond markets.įED AND TECH, NOT A NICE MIX FOR EUROPE (1153 EST/1653 GMT) In the end, he believes the cyclical rise in "inflation will persist and eventually put upward pressure on long-term bond yields and force central banks to turn less accommodative." Overall, he says Crossmark remains "mildly constructive" in their investment stance, mostly due to a bearish weighting in bonds rather than an aggressive tilt toward equities. Meanwhile, he expects the inflationary backdrop to persist. yield curve to spill over to the long end, leading to higher yields there too.Īccording to Doll, further patience is needed to assess the severity of the Omicron threat. Eventually, Doll also expects the uptrend at the short-end of the U.S. As for this week's FOMC Meeting, Doll is expecting the "speech of QE tapering to notch higher." With this, he says the likelihood of earlier rate hikes in 2022 has increased.
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