Report
Everything changes for financial markets when inflation does not return at full employment
In the United States and the euro zone, even though the unemployment rate has now returned to the level of the structural unemployment rate, inflation has not returned. This changes the situation for financial markets hugely: Obviously, interest rates remain low; The flat yield curve in no way heralds a recession; Share prices, real estate prices and corporate bond prices will inevitably continue to rise due to the absence of a recession, thanks to the low interest rates and their effects , including high corporate profitability (which is also aided by weak wage growth) .
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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