Top investment strategist David Roche warns the Fed could burst a market ‘bubble’

CNBC2021-06-29

KEY POINTS The flagship U.S. stock index on Friday chalked up its strongest week since February. This despite the rapid spread of the highly contagious new variant and lingering concerns over whether...

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精彩评论

LWayne
2021-06-29
LWayne
Yes. When?
RB88
2021-06-29
RB88
Great [财迷]
PeterTok
2021-06-29
PeterTok
Great
Hohohoseh
2021-06-29
Hohohoseh
Ok
- PeterTok:
  Good
markkk
2021-06-29
markkk
nice
Barumaru
2021-06-29
Barumaru
Good

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It could be another Covid variant, at the moment I think that is fairly unlikely,” he said.\n“The most likely [catalyst] from my view is that the Fed actually is forced to stop giving a double message and starts having to talk quite seriously about the days of additional monetary stimulus and financing of budget deficits [being] over,” he said.\nWhile some Fed officials have indicated a need to bring forward the conversation about tapering the central bank’s asset purchase program,Chair Jerome Powell moved to soothe the markets by suggesting the projections be taken with a “big grain of salt.”\nRoche suggested the spread of the delta variant was unlikely to be the trigger for pent-up consumer savings to be withheld and for markets to pull back.\n“With regards fiscal stimulus, the likelihood is that the combination of excess savings in both the housing sector and in the corporate sector, plus the fact that there will be more stimulus coming down the line, will keep people fairly optimistic about growth,” he said.\nAlong with the unprecedented fiscal stimulus already in place to support the economy through the pandemic, a bipartisan group of lawmakers closed a deal on infrastructure spending on Thursday. The framework will include $579 billion in new spending to improve the country’s roads, bridges and broadband.\n“Can all this be upset by consumers being scared? The answer is yes it could, if particularly this new variant — the delta variant — were to actually get traction in the United States,” Roche said.\nHowever, he suggested that while countries like Russia, Indonesia, the Philippines and Portugal are looking at a spread that will be much harder to contain, major developed markets should be able to escape.\n“This delta variant in developed markets has really hit hardest in the U.K. and outside the U.K., I would say it is still under control, so I don’t yet see that as a major threat to consumers spending their excess savings,” Roche added.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":159622515,"gmtCreate":1624964687937,"gmtModify":1633946472518,"author":{"id":"3564307384077743","authorId":"3564307384077743","authorIdStr":"3564307384077743","name":"LWayne","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3564307384077743"},"htmlText":"Yes. 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