JPMorgan cranks up equities 'underweight' after market rout

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JPMorgan's strategists ratcheted up the investment bank's 'underweight' recommendation on equities on Wednesday and urged switching into cash following the market rout caused by Silicon Valley Bank's collapse.

A J.P. Morgan logo is seen outside the JPMorgan bank offices in Paris, France, January 27, 2023. REUTERS/Sarah Meyssonnier

LONDON, March 15 - JPMorgan's strategists ratcheted up the investment bank's "underweight" recommendation on equities on Wednesday and urged switching into cash following the market rout caused by Silicon Valley Bank's collapse. In a note titled "There are many carry trades, and they can't all be bailed out", JPMorgan analysts said: "We maintain a defensive tilt in our model portfolio, and further increase our UW in equities vs. raising our cash allocation."

"When the economy is slowing down and financing costs are rising, all these implicit or explicit carry trades are pressured to unwind, leading to an end of the cycle. We believe we are in that stage and remain negative on risky asset classes."

 

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TELL US: How did you do business with Silicon Valley Bank or Signature Bank?U.S. regulators closed Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw funds all at once. New York-based Signature Bank also collapsed. I didn’t. Here is your proof of the ds controlled bidens administration of complete failure to our Nation and its people! It’s a wonderful bank, with Biden as President, no matter what kind of investment you make, you never lose. Spread the word.
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Circular Firing Squad: Tech Industry Plays 'Blame Game' over Silicon Valley Bank CollapseThe collapse of Silicon Valley Bank has resulted in finger-pointing and blame being passed around the financial tech industry. The cryptocurrency sector and the traditional tech sector are busy blaming each other over the massive failure of the tech industry's favorite bank. 🍿🍿🍿 Demonrats blame games as usual. Accountability needed
แหล่ง: BreitbartNews - 🏆 610. / 51 อ่านเพิ่มเติม »