Global stock markets can retest June 2022 lows, cautions Chris Wood

Most global markets have staged a smart recovery since their June 2022 lows. The S&P BSE Sensex has outperformed its peers with a rise of around 13 per cent since then

The markets may have overplayed a hand when it comes to believing that the worst of inflation is over and can retest their June 2022 lows, cautioned Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear.

The US CPI report, Wood said, remains by far the most important monthly data point globally. The data released earlier this week (on Tuesday) meant that the peaking-out-of-inflation narrative, which drove markets over the summer, is, for now at least,