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Rynki akcyjne mogą się jeszcze przecenić – krzywa dochodowości wieszczy kryzys.

Po weekendzie rynki rozpoczynają tydzień w kiepskich nastrojach. Obecnie brak im paliwa do wzrostów, a z każdej strony banki centralnej atakują rynki jastrzębią polityką monetarną. Inflacja nie zachęca do pozycjonowania się pod potencjalne ruchy korekcyjne obecnych spadów, gdyż te mogą szybko nie nadejść. Goldman oraz Morgan Stanley pronozują gorsze perspektywy dla rynków akcyjnych w tym roku i spodziewają się solidniejszej korekty.


Krzywa dochodowści w kwietniu osiągnęla punkt zero, czyli pierwszą, nieformalną zapowiedź recesji. Rentowności akcji i obligacji również przesuneły się na korzyść drugiego rynku.

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