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MARKETS LIVE BLOG:

S&P 500, NASDAQ NOTCH BIG WINS WITH TESLA EARNINGS ON DECK

Tech-focused investors prepare for fresh wave of earnings highlighted by struggling Tesla

JPMorgan says 2022 to see full global recovery

Reuters
·1 min read

LONDON (Reuters) - U.S. investment bank JP Morgan predicted on Wednesday that 2022 will mark the end of the coronavirus pandemic and see a full global economic recovery.

The bank's outlook report for next year said new vaccines and therapeutics would result in a "strong cyclical recovery, a return of global mobility, and a release of pent-up demand from consumers."

Marko Kolanovic, its Chief Global Markets Strategist & Co-Head of Global Research, said the bank expected the U.S. S&P 500 to rise nearly 8% to 5050 points, emerging market stocks to surge 18% and 10-year U.S. Treasury yields - a key driver of global borrowing costs - to rise to 2.25% by the end of 2022.

"Our view is that 2022 will be the year of a full global recovery, an end of the pandemic, and a return to normal economic and market conditions we had prior to the COVID-19 outbreak," Kolanovic said.

(Reporting by Marc Jones; Editing by Saikat Chatterjee)