Wall Street Banks Turn More Upbeat on Global Growth Following Iran Deal

Investment banks turned more optimistic on the global economic outlook in the weeks following the Iran deal. JPMorgan's chief economist wrote that the deal, cooling trade-war rhetoric, and a tech-capex surge were laying the groundwork for 'a period of strong and balanced global growth.' No specific revised numeric JPMorgan recession-probability figure was published alongside the commentary — the firm's most recent hard number remained its pre-deal estimate — but the tonal shift across major banks marked a meaningful change from the stagflation-trap narrative that had dominated the spring.