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US still has potential, says advisor
By Zhang Fengming |
March 24, 2010, Wednesday
|
Online Edition
Online Edition
INVESTORS betting on bigger returns can look into the US market on a better-than-expected economic growth in the world's largest economy, said Legg Mason Capital Management today.
The current consensus for US economic growth for 2010 is likely too low, said Mary Chris Gay, senior vice president and portfolio manager at the US-based fund management company.
"Economic data implied that the growth is above the trend this year," Gay said yesterday in Shanghai.
She said undervalued mega-caps in the technology, financial and healthcare sectors post big growth potential in a low volatility US stock market this year, which may be overlooked due to the market's bad performance in the recession.
The Federal Reserve's accommodative monetary policy, with near-zero interest rate, will help back the growth of the US equities market, Gay said.
She said much better employment figures may come in the next couple of months.
The US unemployment rate held at 9.7 percent in February.
Charles L. Evans, president of Federal Reserve Bank of Chicago said he is expecting a US economy growth of 3 percent to 3.5 percent this year, with unemployment figures remaining high for a period.
The current consensus for US economic growth for 2010 is likely too low, said Mary Chris Gay, senior vice president and portfolio manager at the US-based fund management company.
"Economic data implied that the growth is above the trend this year," Gay said yesterday in Shanghai.
She said undervalued mega-caps in the technology, financial and healthcare sectors post big growth potential in a low volatility US stock market this year, which may be overlooked due to the market's bad performance in the recession.
The Federal Reserve's accommodative monetary policy, with near-zero interest rate, will help back the growth of the US equities market, Gay said.
She said much better employment figures may come in the next couple of months.
The US unemployment rate held at 9.7 percent in February.
Charles L. Evans, president of Federal Reserve Bank of Chicago said he is expecting a US economy growth of 3 percent to 3.5 percent this year, with unemployment figures remaining high for a period.
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