Merci.
Extraits de Top Market Takeaways de jp morgan du 17 mai 2021
A stumble, not a tumble. After the S&P 500 hit an all-time high the week prior, fears around supply squeezes and
Inflation soured broad sentiment and pushed the index –4.0% lower by the end of Wednesday last week. Stocks clawed back some of their losses with gains on Thursday and Friday, but last week's hot U.S. Consumer Price Index data print and the associated headlines suggest that
Inflation concerns aren’t going away anytime soon.
Our view hasn’t changed. We still think it will take a couple of years for the
FED to reach its goals of maximum employment and economic growth underpinning a healthy amount of
Inflation. Expect longer-term rates in the U.S. to rise further as the recovery carries on, and look for the
FED to convey continued patience in its messaging around tightening policy. Despite the
Inflation fears, the tides still look favorable for risk assets: along with persistent easy monetary policy, abundant fiscal policy has left consumers in a place of strength, and vaccine distribution continues to move us toward economic reopening.