He warned clients Thursday that equities and other risk assets won’t be able to sustain any potential rallies without substantial interest-rate cuts by central banks — and he doesn’t anticipate that unless markets drop severely or the economy stalls. For that reason, he said investors should opt for cash or bonds over stocks.“This is a catch-22 situation,” Kolanovic said in a note. “This would imply that we would need to first see some market declines and volatility during 2024 before easing of monetary conditions and a more sustainable rally.”
他周四警告客户，如果各国央行不大幅降息，股票和其他风险资产将无法维持任何潜在的涨势——除非市场严重下跌或经济停滞，否则他预计不会如此。出于这个原因，他说投资者应该选择现金或债券而不是股票。科拉诺维奇在一份报告中说：“这是一个错综复杂的情况。”“这意味着我们需要在2024年首先看到一些市场下跌和波动，然后才能放松货币条件和实现更可持续的反弹。”
