JP Morgan Asset Management recently announced that the current market is heading for a temporary rally just before an economic recession. Chief Investment Officer Bob Michel stressed in a Market Insider report that we should not expect a temporary rally in the next quarter.
Michel warns that risky assets will rise in the next quarter, similar to many major banks during the global financial crisis of the mid-2000s, just before they collapsed. As an investor during the financial crisis, Michel saw a pivotal moment in the merger between Bear Stearns and JP Morgan. He believes that the next quarter could be a good opportunity for the market.
However, Michel predicted that the US economy would enter a recession after a short rally, as the Federal Reserve (Fed · Federal Reserve) will appear at the end of this year after a sharp rate hike. He warns that after a good period, the accumulated time lag becomes a reality and the economy may slow down.
Although this is the opinion of JP Morgan Asset Management, as a huge management company that manages large amounts of money, we should consider their future investment direction.
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