The bull market in risk assets just crossed a major milestone – global equities, as measured by the MSCI All Country World index, has doubled since the pandemic low. The question now confronting investors: what will sustain the rally?
We believe the fuel that has powered the bull so far – strong economic and corporate earnings growth, driven by above-trend consumer demand and easy financial conditions – will last for the next 6-12 months. The acceleration in US retail sales last month, despite inflation running at 30-year highs, shows the strength of US consumer demand.
Speakers:
- Marco Iachini, Cross-Asset Strategist, Standard Chartered Bank
- Fook Hien Yap, Senior Investment Strategist, Standard Chartered Bank
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