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Jpmorgan Asset Management

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finance2 years ago•2 min saved

JPMorgan AM sees similarities between current stock market rally and pre-2008 crisis trends.

JPMorgan Asset Management's CIO, Bob Michele, warns investors to be cautious of the ongoing stock market rally as it is reminiscent of the months leading up to the 2008 financial crisis. He cites the Federal Reserve's aggressive interest-rate increases, credit squeeze caused by banking-sector stress, risks tied to commercial real estate, and the inverted bond-yield curve as indicators of looming economic risks. Michele believes it would be a "miracle" if the US economy avoided a recession once the Fed's rate hike campaign ends.

via Markets Insider|

#economic-risks #finance #interest-rates

finance2 years ago•1 min saved

JPMorgan's Bob Michele Predicts Recession and Calls for Regional Bank Reorganization

JPMorgan Asset Management CIO Bob Michele predicts a brief market rally in the next quarter before an inevitable economic slowdown and recession hits the US by year-end. Michele warns investors not to lean into the rally as gains will be fleeting and the recession will "pound away at the economy." The Federal Reserve's continued interest rate hikes and quantitative tightening over the past year have been an effort to bring down inflation, but Michele notes that the failure of several banks in March caught markets off guard, emphasizing the unpredictability of the economy.

via Markets Insider|

#economic-slowdown #finance #jpmorgan-asset-management