FN Marktrapporten

Time to reconsider US growth and value?
Amundi Asset Managers

The outperformance of growth stocks over value stocks has reached record levels, as has the valuation gap. The environment for growth stocks has been ideal: interest rates have plummeted, and US technology companies have become increasingly dominant in the United States and abroad. However, we believe this ideal environment is unlikely to last. Inflation -- which has been dormant for years -- may rise as a result of stimulus measures. Historically, value has outperformed growth during inflationary periods.