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.”
他週四警告客戶，如果各國央行不大幅降息，股票和其他風險資產將無法維持任何潛在的漲勢——除非市場嚴重下跌或經濟停滯，否則他預計不會如此。出於這個原因，他說投資者應該選擇現金或債券而不是股票。科拉諾維奇在一份報告中說：“這是一個錯綜複雜的情況。”“這意味着我們需要在2024年首先看到一些市場下跌和波動，然後才能放鬆貨幣條件和實現更可持續的反彈。”
