Equities turn unattractive for Credit Suisse; cuts rating to underweight

Markets, Credit Suisse said, had factored in excessive hope and not enough economic realities ahead of the Jackson Hole Symposium

Equities as an asset class have turned unattractive for analysts at Credit Suisse from a 3 – 6 month horizon, who have downgraded them to an ‘underweight’ rating. That said, Credit Suisse believes investors should not lose faith and would be ill advised to exit markets completely given high levels of inflation. 

Market participants, Credit Suisse believes, are now confronted with an environment of slowing growth, rising probability of recession, elevated inflation and – after the Jackson Hole Symposium – central banks that