However, it downgraded its estimates for 2023 as it predicts that the Eurozone will enter a technical recession in the fourth quarter of 2022 and into the first quarter of 2023. Her Eleftherias Kourtalis Bank of America upgraded its estimates for growth in Greece and the Eurozone this year, due to strong tourism, while downgrading […]
Tag: Bank of America
Goldman Sachs and BofA now see a giant 0.75% ECB rate hike
Goldman Sachs and Bank of America revised their forecasts for the European Central Bank’s interest rates today, estimating that a new surge in inflation will prompt its officials to respond aggressively. In particular, as Bloomberg reported, economists from both banks are now predicting that the ECB will raise interest rates by 75 basis points (0.75%) […]
JPMorgan: Three conditions for the stock rally to extend
Unlike the majority of its peers, who see the recent recovery in stocks as a bear market rally and expect further plunges, JPMorgan remains bullish on the view that the current bullish reaction has more room until the end of the year. According to the American bank, the current recovery in growth stocks * which […]
Is the market plunge over? Not before the ‘quiet gorilla’ moves, warns BofA
Is the recent pushback in stocks a bear market rally or has the downtrend in the markets now reversed? The first is warned by Bank of America, which predicts a new big plunge, as unlike institutional investors, households have not sold shares yet. Unlike what had happened in the great stock market dives of the […]
BofA: The impact of a weak euro on equities and the outlook going forward
Her Eleftherias Kourtalis The weakness of the euro this year has dampened the sell-off in European stocks and led to their outperformance against global stocks, Bank of America notes in a report today. The less scope for the euro to fall, after the recent weakening, leaves EU stocks more exposed to further weakening of growth, […]
Bank of America: Investors unconditionally surrendered to stocks – Pessimism at 2008 levels
Investors have reduced exposure to riskier assets to levels not even seen in the 2008 global financial crisis, according to Bank of America’s monthly survey of fund managers, a sign of unconditional capitulation amid a “grim” outlook for the US economy. bank. In particular, as reported by Bloomberg, expectations for global growth and business profits […]
Bank of America’s quarterly profit fell
Bank of America reported a drop in second-quarter profits, mainly due to a decline in investment banking income, as underwriting activity was well below the record levels of the previous year. Wall Street investment bankers have seen a drop in deal activity in the first half of 2022 amid volatility in capital markets, geopolitical tensions […]
Bank of America: Mammoth target downgrade on S&P 500 by 900 points
Bank of America cut its 2022 target for the S&P 500 by 900 points to 3,600, following a prediction it made this week that a recession would hit the US this year. The new target for closing the year is “the lowest in the market”, Bank of America’s strategic analysts acknowledge in their report yesterday. […]
BofA: US in mild recession by 2022
Bank of America economists now forecast a “mild recession this year” in the US, noting that spending on services is slowing and “hot” inflation is curbing consumer spending. In particular, as reported by Bloomberg, BofA’s analysis team led by Michael Gapen reports that “a number of forces are helping to slow economic momentum faster than […]
BofA Bank of America: The fall of Wall Street still has a long way to go
The BofA Securities market trend index fell to zero for the first time since the chaos brought by the pandemic in early 2020, marking an extreme bear market area as investors got rid of credit assets and cryptocurrencies. What’s more, even though the big Wall Street index S&P 500 confirmed the current bear market week […]