One bank is convinced things will improve significantly in 2022.
Investment firm JPMorgan stated in a forecast on Wednesday that the coronavirus pandemic will end in 2022, and there should be a “full global recovery.”
The bank’s outlook report, provided by JPMorgan Chase Global Research, predicts that the growing number of vaccines and therapeutics would allow for a “strong cyclical recovery, a return of global mobility, and a release of pent-up demand from consumers.”
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Marko Kolanovic, chief global markets strategist & co-head of JPMorgan Chase Global Research, stated in the report that the bank expects the S&P 500 to rise nearly 8% to 5050 points. He also expects to see emerging market stocks surging by 18% and 10-year U.S. Treasury yields to increase by 2.25% by the end of 2022.
“Our view is that 2022 will be the year of a full global recovery, an end of the pandemic, and a return to normal economic and market conditions we had before the COVID-19 outbreak,” Kolanovic stated.
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There are still uncertainties to be concerned with. Kolanovic encourages investors to keep an eye on “increased geopolitical tensions in Europe and Asia, a looming energy crisis, uncertainties around high inflation, and normalization of monetary policy.”
JPMorgan CEO Jamie Dimon joked in late November that his bank would outlast the Chinese Communist Party. He later apologized for the remarks.
