JPMorgan says 2022 to see full global recovery

[LONDON] US 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 US S&P 500 to rise nearly 8 per cent to 5050 points, emerging market stocks to surge 18 per cent and 10-year US Treasury yields - a key driver of global borrowing costs - to rise to 2.25 per cent 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.

REUTERS