Investorerne skal ikke være bange for de igangsatte rentestigninger fra den amerikanske centralbank. Banken hører til de storbanker, der endog mener, at centralbanken bør skubbe renterne endnu mere i vejret. Goldman har analyseret virkningen på S&P 500-indekset over de seneste seks perioder med rentestigninger siden 1983, og de viser, at aktierne er steget efterfølgende med 9,5 pct. i snit.
Historically Healthy Hiking
Elevated inflation and a tight labor market have prompted the Fed to raise policy rates for the first time since 2018. While higher rates may increase the cost of borrowing, the S&P 500 has historically delivered positive returns over the past six Fed hiking cycles, averaging a 9.5% annualized return. We believe significant policy room exists before rates challenge equity returns.
Source: Haver Analytics and Goldman Sachs Global Investment Research.
