Stock Groups

Credit Suisse cuts equities allocation on Omicron and policy risks -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: A branch of Swiss bank Credit Suisse in Zurich, Switzerland is seen with the logo on November 3, 2021. REUTERS/Arnd Wiegmann/File Photograph

MILAN (Reuters). Credit Suisse (SIX) Tuesday’s downgrade of equities from overweight to neutral was due to near-term Omicron virus risk. This comes at a time where high inflation may lead to tighter monetary policy.

In a Tuesday report, the Swiss bank’s investment committee stated that “Even though it is not possible for us to see a scenario as severe as the beginning of the pandemic,”

Credit Suisse maintained a slight cyclical bias in its portfolios. Credit Suisse stated that equity markets had upside potential for a six-month period, but its base case calls for strong global growth over the medium term.

The UK stock market was also reduced to neutral, citing “deteriorating earnings”.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages caused by reliance upon the data contained in this site. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]