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☆ Watch CNBC's full interview with Georgetown's Paul McCulley and JPMorgan's David Kelly
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Georgetown's Paul McCulley and JPMorgan's David KellyPaul McCulley, former PIMCO chief economist, and David Kelly, JPMorgan Asset Management chief global strategist, join 'Squawk on the Street' to discuss whether the Fed's likely to go too far with interest rate hikes, how investors should position for the long-run and more.

☆ Stocks, bonds fall as BOJ's surprise policy shift spooks investors
▼ + stars: | 2022-12-20 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

The Bank of Japan (BOJ) widened the allowable band for long-term yields to 50 basis points either side of its 0% target, from 25 basis points previously. European stock markets hit six-week lows, with the German (.GDAXI) and French benchmark indices (.FCHI) falling by as much as 1%, while London's FTSE 100 (.FTSE) lost as much as 0.8%. Japanese 10-year government bond yields surged to their highest since 2014, with euro zone yields following suit. The policy decision caused an immediate spike in the yen with the dollar index dropping 0.80% to 103.95, a six-month low. Credit Suisse on Monday upgraded its outlook from neutral to outperform for China's stock markets in the year ahead.

☆ Bank of Japan makes surprise policy tweak
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +8 min

ATUSHI TAKEDA, CHIEF ECONOMIST, ITOCHU ECONOMIC RESEARCH, TOKYO:"Today's move reflects the BOJ's determination not to alter its yield cure control policy. CAROL KONG, CURRENCY STRATEGIST, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY:"I think the move was certainly unexpected, to say the least. MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE:"They've widened the band, and I guess that came earlier than expected. CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE:"The timing of the policy tweak is a surprise, though we have been expecting the move to come in 2Q 2023. "The tweak may seem modest but is significant for a central bank that has held dovish for a long time.

Japan's Nikkei Stock Index (.N225) shed 2.2% after trading in positive territory earlier in the day, as stocks resumed trading following the BOJ decision. The dollar dropped 2.43% against the yen to 133.62 after the BOJ decision, hitting a four-month low. In early European futures trading, the pan-region Euro Stoxx 50 futures were down 0.89% at 3,784, German DAX futures were down 0.91% at 13,888, FTSE futures were down 0.63% at 7,321. U.S. stock futures, the S&P 500 e-minis , were down 0.52% at 3,825.5. In Asian trading, the yield on benchmark 10-year Treasury notes rose to 3.6752% compared with its U.S. close of 3.583% on Monday.

☆ Bank of Japan reviews yield-curve control policy
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +4 min

Dec 20 (Reuters) - The Bank of Japan has slightly loosened the shackles on its 10-year yield target and said it will review its yield-curve control policy, surprising financial markets and sending the yen sharply higher. However, it is only a first step and yield-curve control (YCC) remains in place, as does negative rate strategy. CAROL KONG, CURRENCY STRATEGIST, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY:"I think the move was certainly unexpected, to say the least. MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE:"They've widened the band, and I guess that came earlier than expected. CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE:"The timing of the policy tweak is a surprise, though we have been expecting the move to come in 2Q 2023.

☆ Asian markets mostly weaker as investors question China reopening
▼ + stars: | 2022-12-20 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

China is pushing on with easing restrictions after three years of COVID-19 lockdowns which is leaving to investors to question how financial markets will react to the reopening. "Once they do reopen, there will be positive sentiment and China will become a growth story for the world again." Australian shares (.AXJO) on Tuesday were down 0.72%, while Japan's Nikkei stock index (.N225) rose 0.34%. In Asian trading, the yield on benchmark 10-year Treasury notes rose to 3.5993% compared with its U.S. close of 3.583% on Monday. "The subsequent hawkish Fed policy update remains fresh in the minds of investors," NAB analyst wrote on Tuesday.

The Bank of England also raised its key interest rate by a further half-percentage point on Thursday and indicated more hikes were likely. "Both the Fed and ECB delivering more hawkish rate steers are compounding recession fears," said Joe Manimbo, senior market analyst at Convera in Washington. Powell was also particularly hawkish in his comments, noting that ongoing rate hikes are appropriate to get sufficiently restrictive. In afternoon trading, the dollar rose to two-week highs against the yen, and last traded up 1.6% at 137.665 . Sterling also fell sharply as investors believe the BOE is nearing the end of its rate hikes.

☆ VIEW Bank of England raises rates to 3.5%, says inflation has peaked
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +7 min

LONDON, Dec 15 (Reuters) - The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase - and its eighth this year. UK rates began rising in December 2021, making the BoE the first of the world's major central banks to kick off a monetary policy-tightening cycle. MONEY MARKETS: Interest rate swaps showed investors expected rates to peak at 4.46% by next August, compared with an anticipated terminal rate of 4.53% just before the decision. Their own numbers have been pointing to a recession for a little while, and they've still materially hiked interest rates. EDWARD HUTCHINGS, HEAD OF RATES, AVIVA INVESTORS, LONDON:"The Bank of England duly delivered on financial markets expectations of a 0.50% hike.

☆ Goldman Sachs thinks the 60/40 portfolio is far from dead and is set to make a strong comeback in 2023, if history is any guide
▼ + stars: | 2022-12-15 | by ( Anil Varma | ) www.businessinsider.com time to read: +3 min

But Goldman Sachs Asset Management says it could come back in 2023, going by past patterns. Not so fast, according to Goldman Sachs Asset Management. Furthermore, history shows the 60/40 portfolio tends to deliver strong returns in the years immediately following a period of negative returns, Goldman Sachs Asset Management said in its note. "Performance for an illustrative traditional 60/40 portfolio has been challenged in 2022 amid surges in interest rates, recession risk, and broader market uncertainty," it said. The outlook for the 60/40 portfolio has also brightened due to increased bond yields, according to Goldman Sachs Asset Management.

☆ Earnings estimates, credit spreads are not accurate, says JPMorgan's Gabriela Santos
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings estimates, credit spreads are not accurate, says JPMorgan's Gabriela SantosGabriela Santos, global market strategist at JPMorgan Asset Management, joins CNBC's 'Squawk Box' to discuss the Federal Reserve's latest interest rate decision and its impact on markets.

☆ JPMorgan is continuing its push into fintech with a deal to partner with buzzy treasury startup Trovata
▼ + stars: | 2022-12-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Trovata, a cash management fintech startup, has partnered with JPMorgan Asset Management. JPMorgan has continued its push into fintech with a partnership with US cash management startup Trovata. California-based Trovata, which was founded in 2016, has been repeatedly backed by JPMorgan and has raised $57.6 million from investors to date. The startup offers cash management services to companies through an API. The tie-up will see Trovata host Morgan Money, JPMorgan's trading and risk management infrastructure, on its platform.

☆ Premarket stocks: Betting on a market bounce? You may be waiting a while
▼ + stars: | 2022-12-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —‘Tis the season for Wall Street strategists to pack their clients’ inboxes with market predictions for 2023. Market analysts aren’t alone. “US equity returns will be driven by earnings against a backdrop characterized by elevated market volatility,” write JPMorgan analysts. The effort was initially touted as a “Big Bang 2.0” — a nod to the rapid deregulation of UK financial markets under former Prime Minister Margaret Thatcher in 1986. The changes are a bid to maintain London’s role as a global financial hub after Brexit, which, alongside political turmoil, has boosted uncertainty for companies thinking about where to invest.

☆ The US is heading for a 'swamp' recession which could mire the economy in a disappointing and slow recovery
▼ + stars: | 2022-12-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

Kelly told Insider the recovery may be considered "tepid" given it will be a "mild improvement in things." David Kelly, chief global strategist for JPMorgan Asset Management, called it a "'swamp' recession" in a note, suggesting the "economy would likely struggle to get out of" what is potentially a mild recession. It's like standing on the edge of a swamp," Kelly told Insider. "The problem this time around is two-fold," Kelly told Insider. In short, Kelly told Insider that a modest recovery from a shallow recession could be viewed as "tepid" as it will be a "mild improvement in things."

☆ JP Morgan asset managers buck the doomsayers of Wall Street, predicting a better 2023 for stocks and bonds
▼ + stars: | 2022-12-09 | by ( Anil Varma | ) www.businessinsider.com time to read: +5 min

JP Morgan Asset Management sees a better 2023 for stocks, even as big Wall Street banks warn of sharp falls. "The worst of the market volatility is behind us and both stocks and bonds look increasingly attractive," JP Morgan Asset said. More interest-rate rises look limited, bringing some cheer for markets in 2023, top asset manager Janus Henderson agreed. Here's a selection of commentary and predictions from the two asset managers on 2023 investment prospects. JP Morgan Asset Management"Our base case sees a moderate recession in most major developed economies in 2023.

☆ Investors should be underweight equities and high-yield credit, says JPMorgan's Gabriela Santos
▼ + stars: | 2022-12-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should be underweight equities and high-yield credit, says JPMorgan's Gabriela SantosGabriela Santos, JPMorgan Asset Management global market strategist, joins CNBC's 'Squawk Box' to break down her market outlook ahead of the open.

☆ Here are the 4 smartest places to put your money in 2023 after a nightmarish year, according to a fund manager at JPMorgan's $2.3 trillion asset management arm
▼ + stars: | 2022-12-08 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Portfolio manager Phil Camporeale of JPMorgan Asset Management sees a recession coming. One of the ugliest years on record for stocks and bonds has been unforgiving for the $3.4 billion JPMorgan Global Allocation Fund (GAOSX) that Camporeale co-manages. Risk-on bets stemmed from a belief that foreign stocks would roar back as the global economy reopened and interest rates rose. Heading into 2023, the global economy is on the brink of a recession and inflation remains an issue. What to expect in 2023 — and where to investInvestors should count on a mild recession next year as growth weakens while interest rates spike, Camporeale said.

☆ JPMorgan's Gabriela Santos breaks down potential investment strategies for 2023
▼ + stars: | 2022-12-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan's Gabriela Santos breaks down potential investment strategies for 2023Gabriela Santos, JPMorgan Asset Management global market strategist, joins CNBC's 'Squawk Box' to break down her market outlook ahead of the open. Santos also lays out her forecast for a potential U.S. recession in 2023 and what investors can do to prepare.

☆ Jobs market still moderating and Fed will have an excuse to taper rate hikes, says JPM's Kelly
▼ + stars: | 2022-12-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJobs market still moderating and Fed will have an excuse to taper rate hikes, says JPM's KellyDavid Kelly, JP Morgan Asset Management chief global strategist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss if Friday's jobs data alters Kelly's soft landing picture, what next year holds for equity markets and more.

☆ US stocks finish mixed amid fears of more Fed hawkishness after hot jobs report
▼ + stars: | 2022-12-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Dow reversed higher as the Fed is still largely expected to slow its pace of rate hikes. But the hot jobs data could push the Fed to tack on more rate hikes in early 2023, some analysts say. JPMorgan Asset Management chief strategist David Kelly said the jobs report was likely distorted, and there's still plenty of room for the Fed to taper rate hikes and pause in 2023. Principal Asset Management chief strategist Seema Shah said the jobs report could push the Fed to raise rates above 5%. "This report doesn't mean the risks of the Fed raising rates to 6% are back on the table.

☆ Friday's jobs report showed some 'fraying around the margins,' says LinkedIn's Kimbrough
▼ + stars: | 2022-12-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday's jobs report showed some 'fraying around the margins,' says LinkedIn's KimbroughJack Manley, JPMorgan Asset Management, and Karin Kimbrough, LinkedIn chief economist, join 'Closing Bell' to discuss their take on Friday's jobs report, how the report will ultimately impact the markets and more.

☆ Watch CNBC's full interview with JPM's David Kelly and Edward Jones' Mona Mahajan
▼ + stars: | 2022-12-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with JPM's David Kelly and Edward Jones' Mona MahajanDavid Kelly, JP Morgan Asset Management chief global strategist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss if Friday's jobs data alters Kelly's soft landing picture, what next year holds for equity markets and more.

The Euro STOXX 600 (.STOXX) gained 0.4%, recovering from its worst session in almost two weeks a day earlier. Shares in London (.FTSE) were up 0.8% and markets in Paris (.FCHI) and Frankfurt (.GDAXI) gained around 0.2%-0.3%. Hopes of faster easing of China's strict restrictions rose after an official said they will continue to fine-tune policy to reduce the impact of its "Zero COVID" on society. The sudden bout of optimism on China combined with talk of possible output cuts by OPEC+ to help oil prices rally. Shares of Chinese property companies surged after the country's securities regulator lifted a ban on equity refinancing for listed property firms.

☆ JPMorgan says 60/40 portfolio has best return environment in a decade
▼ + stars: | 2022-11-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan says 60/40 portfolio has best return environment in a decadeSylvia Sheng of JPMorgan Asset Management said the downturn in markets this year has slashed valuations, making them more attractive for long-term investors.

☆ Analysis: Investors warm to European corporate bonds after a brutal year
▼ + stars: | 2022-11-23 | by ( Harry Robertson | ) www.reuters.com time to read: +4 min

A net $3.62 billion flowed into BlackRock's exchange-traded products which track investment grade European corporate debt in the 30 days to November 17. This has buoyed government bond prices, pushing their yields down, and boosted riskier assets such as corporate bonds and stocks. The iBoxx euro corporate bond index (.IBBEU003D) has risen almost 4% since hitting an eight-year low in October, although it remains down 13% for the year. Goldman Sachs strategists recently told clients that one- to five-year European corporate bonds are "very attractive". They said they're more appealingly priced than U.S. corporate debt, with many investors overly pessimistic about the outlook for Europe's economy.

☆ The Fed has done long-term damage to the appeal of real estate as a financial asset, says the strategy chief at JPMorgan's asset management arm. He explains how this could also tip the economy closer
▼ + stars: | 2022-11-22 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

The housing market has cooled off in a hurry as mortgage rates hit new highs. The housing market has gone from white-hot to cooling fast, and it's not coming back any time soon. "The first genuine relief on mortgage rates may have to wait for the end of 2023 when the Fed may begin to take back some of its rate hikes," he said. Adding to the complications, the spread between Treasury bond rates and mortgage rates has increased, which creates another tiny barrier to affordability. That means even when sales have slowed further, it's not necessarily going to be easy to find bargains in the housing market.

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