TechFlow, May 22 — According to Jinshi Data, StanChart senior investment strategist Foo Ken Yap said that despite rising concerns over the U.S. fiscal deficit, the Fed is expected to cut interest rates to cushion bond market shocks and support economic growth. The bank forecasts that the yield on 10-year U.S. Treasury bonds will fall from the current level of around 4.59% to 4%-4.25% within 12 months, while maintaining an optimistic outlook on U.S. equities, believing strong corporate investment and resilient earnings expectations will continue to support the market. StanChart also reiterated gold's value as a hedge against inflation and recession risks, keeping its target price at $3,500.
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