2024-08-30 12:15:46 +0300
Credit Suisse Slashes Global Equities Call, Warns of More Pain Ahead
Credit Suisse Group AG recommended investors to go underweight global equities following the Jackson Hole symposium, where central bankers doubled down on their bid to tame inflation through higher interest rates.
The argument for an early dovish pivot by the Federal Reserve and other major central banks is now “clearly out of the window,” Michael Strobaek, global chief investment officer at the European bank, wrote in a note on Monday. Markets are now confronted with slowing growth, rising recession risks and elevated inflation, and “the next few months are thus likely going to be painful,” he said.
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