BlackRock, the world’s biggest money manager, downgraded Chinese stocks and their emerging-market peers. That reversed its bullish call in February as China’s post-Covid reflationary measures fell short of expectations.
Chen Zhao, Founding Partner and Chief Strategist of Montreal-based Alpine Macro, has been analyzing global financial markets for more than thirty years. Numerous investors worldwide know him as the long-serving Chief Strategist of BCA Research.
Today, Zhao is confident about equity markets. He sees the ingredients for a strong recovery in the global economy, and he believes fears of higher inflation are overblown. He sees the potential for the Federal Reserve s monetary policy to inflate a new speculative bubble.
«This bubble is going to be a whole lot bigger than the tech bubble of the late nineties, and it will probably run a whole lot longer than we think», says Zhao in an in-depth conversation with The Market NZZ.