Stocks should add to gains in the second half of year, predict Grandbay Capital
Hong Kong based brokerage Grandbay Capital predict stocks will continue to rise heading into the second half of the year at record levels, largely powered by a strong economy and robust earnings growth, tempered by the possibility of higher inflation and tighter Fed policies.
- (1888PressRelease) May 05, 2023 - Grandbay Capital expects stocks to rise in the second half of the year. Strong growth, strong earnings and a freeze on interest rates are the three main factors investors should look our for in the second half of 2023, according to Tom Peterson, Director of Corporate Trading at Grandbay Capital Limited.
The good news is that central banks will likely be forced to pivot and signal cutting interest rates sometime next year, which should result in a sustained recovery of asset prices and subsequently the economy by the end of 2023, stated Peterson. The bad news is that in order for that pivot to happen, we will need to see a combination of more economic weakness, an increase in unemployment, market volatility, decline in levels of risky assets and a fall in inflation. All of these are likely to cause or coincide with downside risk in the near term.
Peterson, however, tempered this outlook by stating that the market gains may be be as strong as first half growth, when some indexes reached record highs.
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