Barclays: Dovish central banks support global stock markets

Gold 10 Data, June 21, Barclays strategist said that after the political turmoil in France, the European asset market has returned to calm, and with the central banks of various countries turning to doves, the “blonde girl with golden hair” narrative of the global stock market has basically not been affected. However, the team led by analyst Emmanuel Cau wrote that the risk premium in the European market is unlikely to decline quickly. Since the first significant repricing of bills across asset markets last week, investors have continued to speculate on the potential results of the French referendum. The calm French bond sale on Thursday was a relief, and the narrative of the “blonde girl with golden hair” in the global stock market remained intact, as mid-term interest rate cuts in the cycle have had a mild stimulating effect on the economy, despite some mixed data and rising tail risks in geopolitics, which may help profits and support valuations.