came out in force during the week to advise clients to buy on the dip, as the global economy continues to grow.
“We remain negative on European equities, with our macro assumptions implying 8 per cent further downside for the Stoxx 600 to 430 by year-end,” they said, referring to the pan-European stocks benchmark., said that while the market is pricing fewer than seven Fed rate hikes over the coming three years, it expects at least nine hikes.
The pace of the sell-off this week highlights, according to some observers, how much the global equities rally since March 2020 has been driven by central banks flooding the zone with cheap money to stave off a financial crisis during the pandemic.
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