We don’t subscribe to the view that the current high level of inflation in the US justifies a very big drop in its stock market. Nonetheless, we do think its valuation looks a bit high even if inflation has topped out – especially given a less-than-rosy outlook for economic growth. So we think it is set to fall further.
Global Outlook Drop-In (4th May, 10:00 EDT/15:00 BST): Our Global Economics team will be answering your questions as they and discuss their Q2 Outlook report in this special 20-minute briefing. Register to learn more about our above-consensus views on inflation and rates and how these feed our below-consensus take on the growth outlook. Register now
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