Barclays: Divergence in monetary policy benefits the U.S. stock market

金色财经_ · 2026-03-26T08:13:22+00:00

Barclays analysts point out that U.S. monetary policy provides much greater support for risk assets than Europe due to its larger room for easing. In contrast, the European market's expectation of tightening policies has intensified the divergence in performance between U.S. and European stock markets. The profit growth and policy flexibility of the U.S. stock market make its outlook more optimistic.

金色财经_

2026-03-26 08:13:22

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Goldman Sachs reports that on March 26, Barclays analysts stated in a report that due to factors such as divergence in monetary policy maneuvering space, U.S. monetary policy still provides much greater support for risk assets than Europe. These analysts said, “The contrast in monetary policy is quite clear: despite Europe being more affected by oil shocks, markets still reflect expectations of further tightening, while the Federal Reserve has more room to ignore recent energy-driven inflation and lean toward easing rather than re-raising interest rates.” They noted that this policy asymmetry increases the gap between U.S. and European stock markets. “The U.S. continues to offer a clearer profile, including double-digit earnings growth, non-cyclical AI-driven capital expenditures, profit margin support, and policy flexibility, which provides reasons to remain optimistic about U.S. stock performance relative to Europe.” (Zhihui Finance)

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