"Desperate times call for desperate measures." Already said Christine Lagarde March 19th. The pandemic has forced large institutions to ‘water’ economies with “the largest stimulus plan known to man”, in the words of Jonathan Golub, US equity strategist for Credit Suisse. And this is how to invest to get a slice of it.
The definitive reopening of the economies on a world scale is going to suppose an upward discharge for the markets and will help to relaunch two sectors “obscenely cheap”: the financial and the sanitary one. "ANDThese are going to be the two best sectors of 2021 "says Golub, who sees in that year an "extremely positive" investment scenario.
In the case of banks, other entities such as JP Morgan They also fervently believe that 2021 can be their big year. "Profit reviews for banks can particularly outpace tech ones for a significant period of time," he said.
"We reiterate our strategy set at the beginning of the month, just before the US elections, according to which the risk / reward ratio has turned positive, and we rotate portfolios to invest in banks and 'Value', in addition to also betting on emerging markets ", recently added the US investment bank.
“If it were a‘ hedge fund ’and had to operate within six weeks, I would be very cautious, but… if we look further, all those risks fade”, Adds Golub forcefully.
THE STIMULES COME FROM BOTH FRONT
Massive stimuli will rain on the two main fronts: the US and Europe. On the one hand, Washington is finishing its second big round of economic aid, which will come in two phases. He will do so under pressure from Jerome Powell, president of the Fed, which sees “the hardest months” still ahead of us.
We started with Lagarde and ended with her. The president of the ECB It has not been left behind either, and just a week ago the agency approved its third salvo of stimuli, which amounted to 1.85 trillion euros and did not close the door to lower interest rates even further.