Beware this stock market rally because it's reminiscent of what led up to the 2008 crisis, JPMorgan Asset Management CIO says
Investors should be wary of the ongoing stocks rally because it doesn't reflect looming economic risks, and is reminiscent of the months that led up to the 2008 financial crisis, according to JPMorgan Asset Management's chief investment officer. that the current market conditions remind him of the March-to-June period in 2008.
"We're seeing things that you only see in recession or where you wind up in recession," Michele said, referring to the Federal Reserve's aggressive interest-rate increases, the credit squeeze caused by banking-sector stress, risks tied to commercial real estate, and the inverted bond-yield curve, which is widely regarded as a recession indicator.
He also pointed to the series of regional bank collapses of the past few months, with JPMorgan taking over First Republic Bank after it failed – as it did with investment bank Bear Stearns in March 2008. "The markets viewed it as, there was a crisis, there was a policy response and the crisis is solved," he told CNBC, referring to market events of 2008."Then you had a steady three-month rally in equity markets."
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Lawyer for Jeffrey Epstein accuser wants to question JPMorgan Chase CEO Jamie Dimon againLawyers for a Jeffrey Epstein accuser want a second chance at deposing JPMorgan Chase CEO Jamie Dimon, arguing the bank took too long to turn over documents.
Weiterlesen »
JPMorgan upgrades Carnival as momentum for the cruise industry growsCarnival's post-pandemic recovery is not just a short-term boom, but an indication of more sustainable business strength, says JPMorgan.
Weiterlesen »
SEC Crypto Crackdown Adds Urgency for U.S. Lawmakers to Produce Regulatory Framework This Year: JPMorgan.jpmorgan says last week’s escalation of the SECGov crackdown on crypto exchanges is creating more urgency for U.S. lawmakers to come up with a comprehensive regulatory framework this year. willcanny99 reports.
Weiterlesen »
JPMorgan Chase Agrees to Settle Jeffrey Epstein Accusers’ SuitThe company said it had agreed to settle a lawsuit alleging the financial institution facilitated Jeffrey Epstein’s sex-trafficking operation.
Weiterlesen »
JPMorgan Chase reaches legal settlement with victims of Jeffrey EpsteinPMorgan Chase & Co. on Monday said it reached a settlement in the lawsuit, Jane Doe 1 v. JPMorgan Chase. The lawsuit was filed in the Southern District of...
Weiterlesen »
JPMorgan agrees to settle Jeffrey Epstein victim class action lawsuitJPMorgan Chase reached an 'agreement in principle' to settle a class action lawsuit filed by victims of Jeffrey Epstein, the bank announced Monday.
Weiterlesen »