21:03GoldenOctober2024
Minsheng Macro: U.S. Stagflation or Benchmark, Gold is the "Version Answer"
After Trump's election, the market has seen a "turnback and run" market, and it is expected that the economy may move towards "stagflation" or even "recession". The U.S. dollar, U.S. stocks and U.S. Treasuries were affected, showing a downward trend. There may be two scenarios in the future: first, the Fed is easing and inflation is reappearing; Second, the risk of recession has increased, and more substantial easing is needed. In either case, gold and non-US markets will benefit. Therefore, gold is a key choice for asset allocation in the current economic environment.