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“We now know what we are dealing with: a protracted stand-off between Russia and the West,” strategists and managers at the world’s largest asset manager wrote in a research note on Monday, sent by a spokesperson.
“We also think it has reduced the risk of central banks slamming the brakes to contain inflation.”
Investors’ interest rate hike expectations “have become excessive,” creating opportunities in equities, they noted.
Russia’s invasion of Ukraine last week intensified market volatility. The benchmark S&P 500 stock index at one point last week closed more than 10% below its Jan. 3 closing record high, confirming it was in a correction.
