The Recovery Should Still Run

| Multi Asset

After the recent market moves, a spectrum of measures – both backward-looking and forward-looking – now show extreme valuations within global equities (on average between their historical 85th and 95th percentiles). However, stronger-than-expected growth in corporate earnings should allow them to return to less discouraging levels: earnings growth should therefore justify the expansion of multiples. This should help our proprietary Market Stress Nowcaster stay relatively muted.

 

The Recovery Should Still Run
Source: Bloomberg, Unigestion. Data as at 14 December 2020.


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