Reflation Trade Still in Vogue After Stock Gains, JPMorgan Says
TD's Misra Says March Hike Creates Optionality for Fed
This article is for subscribers only.
Investors who pushed equities higher in recent months on bets of faster global growth and inflation should stay the course, according to JPMorgan Chase & Co.
Despite stocks reaching new peaks, extending the rally that began after the U.S. election, the trade remains supported by robust macroeconomic indicators, strategists including Mislav Matejka and Emmanuel Cau wrote in a note. It’s a sentiment echoed by their peers at Natixis SA, who said that equities remain the asset class to be in as the reflation theme continues and the Federal Reserve tightens monetary policy.