favour of bonds
Fuelling the surprise equity outperformance is the optimism around AI following November’s release of ChatGPT. The frenzy has sparked a surge in shares of computer and software behemoths, with the seven largest tech firms, includingThis advertisement has not loaded yet, but your article continues below.Tony Pasquariello
“AI has taken off like a rocket and drawn all kinds of investors in,” Tony Pasquariello, Goldman Sachs Group Inc.’s head of hedge-fund coverage, said in a note.Article content Now, an MSCI index tracking stocks in developing nations is behind its U.S. counterpart by eight percentage points this year. Instead of becoming the top performer as Wall Street predicted, Chinese stocks languished as one of the worst laggards. And strategists at firms from Morgan Stanley and Goldman Sachs are rushing to lower their forecasts.Article content
That was particularly frustrating for yen bulls who had envisioned that a potential shift in the Bank of Japan’s uber-easy monetary policy would reverse a two-year plunge. Despite firm inflation, BOJ’s new governor, Kazuo Ueda, has repeatedly emphasized the risk of a premature reduction in stimulus.
Entertainment Entertainment Latest News, Entertainment Entertainment Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nationalpost - 🏆 10. / 80 Read more »
Source: financialpost - 🏆 7. / 85 Read more »
Source: fpinvesting - 🏆 43. / 63 Read more »