The beginning of the Three Kings Rally? [Closer to the Exchange]

Around mid-October last year, the level of inflation in both Europe and the United States began to fall cyclically. Investors reacted to the slowdown in price growth dynamics with clear optimism, because they knew that such a market scenario allows central banks to reduce or even completely stop (as in the case of NBP) cycle of interest rate increases. Is it then recessionthat everyone was afraid of last year is already in the price? It is worth noting that the dynamic increase in the cost of money - which is the reaction of central banks to inflation that is getting out of control - has a negative impact on the ability of some enterprises to repay their own debt.

The beginning of the Three Kings Rally

Looking at historical ISM index readings, the current levels of the index suggest that the US economy is in a shallow recession. How will the resignation of the Chinese authorities from restrictions related to the coronavirus pandemic affect global stock markets? How will the shares of state-owned companies behave in Poland during the election year?

We invite you to the next webinar Closer to the Stock Exchangein which Maciej Kietliński answers the key question - are we seeing the beginning of the three kings rally on the markets?

In the latest webinar:

• Is the recession already in the prices?
• What do the PMIs say about the recent bull market?
• What next for state-owned companies?

About the host

Maciej Kietlinski - professionally involved in the analysis of capital markets since 2017. He gained the necessary experience in such renowned companies as BGŻ BNP Paribas or Noble Securities. In his last place of work, he specialized in the analysis of listed companies from the dynamically developing gaming sector. He also gave stock exchange comments on TV Biznes24, Parkiet.tv or Inwestorzy.tv and for Forbes, Reuters, Parkiet, Gazeta Wyborcza and PAP Biznes. Kietliński also focuses on development, which is why he is currently working on a doctoral dissertation in economics at the Warsaw School of Economics. CIIA, Investment Advisor or Stock Broker.

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