‘Bubble-like behavior’ unlikely to destabilize the stock market, but JPMorgan says value will prove a ‘cushion’ as yields rise

Bond yields and cyclical bets in equities probably bottomed this month and are on their way up for the rest of 2021, with rising rates and pockets of “bubble-like behavior” unlikely to destabilize the stock market, according to a JPMorgan Chase & Co. report.

A poll of JPMorgan clients last week found that 48% of investors expect the S&P 500 to rise to 4,600 at the end of this year, with 26% expecting the index to be trading at 4,400, the report shows. The index closed up 0.3% Monday at around 4,479. While “mechanically higher real yields would shrink the equity risk premium,” they wrote that “one needs to factor in large real yield increases of more than 100bp from current levels to start becoming concerned about equity valuations.”

Lmfao yield will be 'a cushion' when the equity bubble collapses, says jpm? More like a parachute, hovering over the up drafts of a smoldering city below... An inferno caused by jpm in order to build said parachute.

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