摩根大通警告:美股風險回報不具吸引力 應下調企業每股盈利
標準普爾500指數週三上升,接近可能退出調整區域。摩根大通首席全球市場策略師Marko Kolanovic認爲,本月股市強勁反彈,但由於聯儲局繼續將利率維持在限制性水平,股市的風險與回報仍然「不具吸引力」。
Marko Kolanovic在一份有關全球資產配置的研究報告中表示,債券孳息率下降,被股市解讀爲近期的利好因素,但如果全球央行沒有先發制人的減息,他認爲風險將會加劇,限制性貨幣政策的高值效應仍在前方。
他擔心消費者貸款利率高和消費者儲蓄減少,或會損害公司未來幾季的利潤,指對未來每股收益增長12%的預期應該下調。
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