Send
Print
Alex Proimos
The current position of the stock markets in a number of nations, according to the bank's top manager, is considerably different from the typical situation seen over the previous 15 years, which has been defined by low interest rates and, as a result, cheap corporate borrowing.
Pick, on the other hand, feels that the current global economic crisis is driven by variables that haven't existed in decades. This includes the coronavirus pandemic, the conflict in Ukraine, and a global surge in inflation.
According to the banker's estimations, the transition to a new phase of development will take one or two years, and excessive inflation and recession will alternate every few months in the near future.
Pick also expects that, after several years of low rates, interest rates will rise, resulting in higher revenues for commercial and investment banks but a severe worsening of the situation in many other sectors of the economy.
source: cnbc.com
Pick, on the other hand, feels that the current global economic crisis is driven by variables that haven't existed in decades. This includes the coronavirus pandemic, the conflict in Ukraine, and a global surge in inflation.
According to the banker's estimations, the transition to a new phase of development will take one or two years, and excessive inflation and recession will alternate every few months in the near future.
Pick also expects that, after several years of low rates, interest rates will rise, resulting in higher revenues for commercial and investment banks but a severe worsening of the situation in many other sectors of the economy.
source: cnbc.com
