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JPMorgan says 2022 to see full global recovery -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A sign outside JP Morgan Chase & Co. offices is seen in New York City, U.S., March 29, 2021. REUTERS/Brendan McDermid/File Photo

LONDON (Reuters), – U.S. financial institution JP Morgan said Wednesday that 2022 would see the end of the coronavirus outbreak and a global economic recovery.

In its outlook report, the bank said that new therapeutics and vaccines would lead to a strong cyclical recovery and return to global mobility. It also predicted that consumers will be able “to release their pent up demand” in next year’s outlook report.

Marko Kolanovic, its Chief Global Markets Strategist & Co-Head of Global Research, said the bank expected the U.S. to rise nearly 8% to 5050 points, emerging market stocks to surge 18% and 10-year U.S. Treasury yields – a key driver of global borrowing costs – to rise to 2.25% by the end of 2022.

Kolanovic stated that “our view is that 2022 would be the year for a complete global recovery and an end to the pandemic and a return of normal economic and commercial conditions as we had before the COVID-19 epidemic.”

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