Enig bank nieuws wat we kunnen vinden van JP morgan
With Italian 2020 budget negotiations now underway, Matejka highlighted that Italian spreads have narrowed significantly of late, suggesting euro assets should benefit.
“While we had a longstanding preference for U.S. over euro zone banks, we note that the (half-year) spread differentials are now suggesting that there could be some reversal in the underperformance of euro zone vs U.S. banks,” the note stated.
While remaining overweight technology stocks, J.P. Morgan analysts anticipate a broadening of the current rotation away from growth and into value stocks, which would further support improved performance of European equities versus their transatlantic counterparts.
While identifying this as a tactical opportunity, however, J.P. Morgan is wary of the potential impact of a no-deal Brexit, though it is not the analysts’ base case. Matejka advised against ruling out the possibility of a deal being secured before the October 31 deadline, and projected that this would “significantly help” the bank’s euro zone upgrade.