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Added on the 16/03/2023 08:47:36 - Copyright : Euronews EN
On Wednesday Credit Suisse Strategists revealed the key to investing in 2021 is preparing for a virus-free economy in 2022. In a note to clients, the team initiated a 2021 S&P 500 price target of 4,050. Business Insider reports that the target implies a 12% rally from Tuesday's closing level. Various coronavirus vaccines are vying for regulatory authorization. That led Credit Suisse to "de-emphasize the near-term" and focus on how the US economy would launch out of its virus slump. The team said "the virus will be a fading memory" in 2022 and the rotation to cyclical stocks will be "largely behind us."
European Central Bank President Christine Lagarde says Eurozone inflation is slowing but is still expected to be "too high for too long", as the ECB raises interest rates for the ninth consecutive time. SOUNDBITE
G7 countries' finance ministers and central bank governors pose for a group photo as part of the three-day talks in the coastal city of Niigata, Japan. IMAGES
Images of a press conference in Bern by UBS and Credit Suisse leadership and Swiss officials. UBS will take over its troubled Swiss rival Credit Suisse for $3.25 billion following crunch talks Sunday aimed at stopping the stricken bank from triggering a wider international banking crisis. IMAGES
European Central Bank president Christine Lagarde says that the eurozone economy has weathered the fallout from Russia's war in Ukraine and surging energy costs better than expected. SOUNDBITE
The European Central Bank president Christine Lagarde says that the ECB is raising interest rates again and signals it would "stay the course" in its monetary policy tightening, even as sky-high inflation starts to slow. SOUNDBITE