Asia-Pacific markets were set to rise as investors digest the Bank of Japan's landmark shift in monetary policy and await the U.S. Federal Reserve's interest rate decision.for the first time in 17 years and scrapped its yield curve control policy, sending the Nikkei beyond the 40,000 mark for the first time in almost two weeks.The one year LPR acts as the peg for most household and corporate loans, while the five year LPR is the benchmark for most property mortgages.was up 0.
They were the only two companies on CNBC Pro's global stock screen that have received price target upgrades from five or more analysts in the past seven days, and also have potential upside of over 50%. "Such setbacks in the data may cause some investors to lose confidence in the prospect of a soft landing for the U.S. economy, let alone a Goldilocks scenario. But we view these more like speed bumps along the journey," wrote Mark Haefele, the bank's chief investment officer of its global wealth management division.
"Our base case is for a soft landing with three Fed rate cuts this year, a backdrop that is favorable for quality bonds. As growth moderates, we also expect outperformance from quality stocks, those of companies with strong balance sheets, high profitability, and exposure to resilient earnings streams," Haefele added.
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