Deutsche Bank recommends overweight equities into 2024, risk turning to opportunity. “We anticipated weaker growth, disappointing beats in earnings and disappointing central bank communication into Q3. By now, these risks seem adequately reflected in markets”
J.P. Morgan Private Bank says conditions in place for a new high for equities in 2024: positive outlook for earnings … could cause new highs by the middle of 2024; “We think we bottomed out last quarter, we began to re-accelerate, and the fundamental story is a good one, which is supportive of stocks; higher-for-longer rate environment means rates have reached an intermediate top, which is of benefit to equities; believes there will be a soft landing; new highs in the market next year will be largely driven by earning growth, not by valuations
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