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Coming out of the pandemic. Fiscal and monetary stimulus provided support for fundraising deals and exit activity within the private equity market. Even as fiscal stimulus has waned and the Federal Reserve has tightened policy. Better than expected economic activity and earnings have supported recent performance. For investors looking to supplement their public equity allocations, private equity can help enhance portfolio returns, as it has done for multiple decades and provide exposure to rapidly growing companies at the forefront of key market trends and themes. That being said, private equity does have the drawback of lower liquidity, and higher interest may pose a threat to future returns.
For today's episode, Dr. David Kelly is joined by Stephen Catherwood, Co-head of our Private Equity Group with over 20 years of experience on the team. They dive deeper into the current balance of risks and opportunities in the private equity market.
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Portfolio Managers from across J.P. Morgan Asset Management to help shed some light on the rapidly growing and increasingly important world of alternatives. These conversations will range from broad overviews of the entire opportunity set, to asset class-specific deep dives across private equities, private credit, real estate and more.
Since 1950, the classic 60/40 stock-bond portfolio has delivered a strong annualized return of 9.3%. However, with elevated valuations across U.S. equities and low bond yields relative to history, returns from public markets may be less impressive moving forward. That said, for those willing to venture outside of the classic 60/40, adding a sea of alternatives to a portfolio can meaningfully improve outcomes and enhance returns. Of course, there are many different types of alternative assets, each with their own distinct characteristics.
For investors, understanding how to leverage these alternative strategies can make the difference between falling short of your long-term goals and surpassing them. For today’s episode, Dr. David Kelly is joined by Pulkit Sharma, Head of Alternative Investment Strategy and Solutions here at J.P. Morgan Asset Management, to discuss the benefits of allocating to alternatives and the opportunities that he’s seeing across alternative asset classes.
For more resources, please visit the Guide to Alternatives.
This year had no shortage of surprises for investors, from strong returns in stock markets to the impressive resilience of the U.S. economy. Along the way, we’ve confronted all sorts of shocks: a new war in the Middle East, Washington dysfunction, even higher interest rates while the labor market and consumer have seen continued strength. As we look to 2024, there is cause for both concern and optimism. A soft landing is still in view, but there’s a number of risks that could potentially divert us from that path. On this episode, Dr. David Kelly is interviewed by Stephanie Aliaga, Research Analyst, to discuss the economic outlook for 2024.
For more insights, read the full investment outlook here.
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Successful long-term investing requires both the flexibility to navigate the ever-changing market tides and an engine of long-term assets to carry you forward. In this episode, we’re going to talk about both—how investors can build portfolios to navigate volatile market environments and generate better long-term returns. Such an endeavor requires an in-depth understanding of portfolio composition, the drivers of risk and return and the right mix of asset classes that are best suited for different market environments.
In today’s episode, Dr. David Kelly is joined by Corey Hill, Head of U.S. Portfolio Insights at J.P. Morgan Asset Management, to dive into how his team is helping investors build stronger portfolios.
Stress test your portfolios in future market scenarios (Powered by research from Dr. David Kelly), visit the tool here.
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The menu of investment solutions has evolved dramatically over the last 10 years, as innovation in financial planning tools has enabled the development of customized and flexible strategies. This episode discusses one of model portfolios. With increased efficiency, better customization, and greater flexibility, model portfolios are built to navigate unpredictable market cycles while maintaining a focus on the needs of investors. Dr. David Kelly is joined by Beth Nardi, Head of Model Portfolio Distribution at J.P. Morgan Asset Management, to help us learn about model portfolios: what they are, who they’re made for and the investment challenges they’re designed to address.
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Regardless of where you are in life, you need a plan for the future, and for most Americans, that involves planning for retirement. The task can feel overwhelming at times and easily be pushed aside for later, more pressing times. However, a well-constructed plan for the future not only helps ensure a secure retirement, but can be a powerful engine for savings and wealth generation. For today’s episode, Dr. David Kelly is joined by Michael Conrath, Chief Retirement Strategist at J.P. Morgan Asset Management to guide us through the toolkit for retirement planning and the key strategies that individuals can leverage.
Explore our insights on retirement strategies: https://bit.ly/3MDHxYd
Watch the video version of this podcast on YouTube.
New and innovative technologies have disrupted industries time and time again, creating more efficient ways to reach desired outcomes. The financial services industry is no exception, and options for investing today look far different than they did 100 years ago. The exchange traded fund, or ETF, is one example of these technologies changing the ways that we invest. Investors may associate ETFs with passive management, but the recent growth of actively managed ETFs is challenging that assumption. For today’s episode, Dr. David Kelly is joined by Bryon Lake, Global Head of ETF Solutions at J.P. Morgan Asset Management, to discuss how investors are using active ETFs to harness the tools of active management in a complex investment environment.
Watch the video version of the podcast on YouTube.
In this episode, we dive into alternative assets. Alternatives have seen incredible growth in the last decade, and have provided new strategies for investing in public and private markets, as well as better ways to generate alpha, income and diversification in traditional stock and bond portfolios. There are many kinds of alternative assets, and all have specific benefits and risks that require investors to understand each of them individually. Alternatives have also become much more accessible, and the growth of their overall asset size increasingly means that all investors—regardless of whether they’re actually invested or not—need to know what is happening in alternative markets.
For this conversation, Dr. David Kelly is joined by Anton Pil, Global Head of Alternatives, who has led the impressive growth of the alternatives platform at J.P. Morgan Asset Management.
For more insights on alternatives, visit our website here.
As we wrap up our summer series, Market Movers, Dr. David Kelly is joined by Michael Feroli, Chief U.S. Economist for the JP Morgan Investment Bank, to dive into the outlook for the U.S. economy and the Federal Reserve (Fed). Inflation has continued to moderate and economic data has proved resilient since the Fed’s July meeting, raising hopes for a soft-landing. Meanwhile, stock markets have continued to fare much better with investor sentiment resembling the start of a new bull market. For investors, many questions remain before we can call an “all-clear” on the economic outlook, and looking beyond the cycle, more structural changes may define long-term implications for the pathway of rates, growth and inflation. In this episode, two of JP Morgan’s most prominent thought leaders sit down to tackle many of these questions.
Watch the video version of this episode on YouTube.
While the broader economy has remained resilient this year, the real estate sector has faced its fair share of headwinds. Higher mortgage rates and home prices have weighed on the residential sector and tighter lending conditions following the regional banking crisis have created a challenging backdrop for commercial real estate. Additionally, it remains unclear whether pandemic-induced disruptions are merely temporary road-bumps, or the beginnings of a new “regime” within real estate.
For today’s episode, Dr. David Kelly is joined by Dave Esrig, a Portfolio Manager at J.P. Morgan Asset Management, to discuss the trajectory of the real estate market.
Watch the video version of this podcast on our YouTube channel.
For our second episode of Market Movers, Dr. David Kelly, Chief Global Strategist, is joined by Jack Manley, Global Market Strategist, to discuss the next generation of investors. They dive deep into how this younger demographic is shaping the investment environment and driving key themes in the markets today.
For more resources on investing for the next generation please reach out to your J.P. Morgan representative and visit our website here.
Watch the video version of this podcast on YouTube.
Artificial intelligence (AI) technologies, particularly generative AI, appear likely to revolutionize the way we work, innovate and create. This disruption can have significant economic implications, with the most significant likely to be accelerating labor productivity, and thus economic activity, after years of stagnation.
In the first episode of our summer series Market Movers, Dr. David Kelly, Chief Global Strategist, is joined by Stephanie Aliaga, Research Analyst, and Michael Albrecht, Global Strategist on the Multi-Asset Solutions Team, to discuss the broad range of implications AI may have on labor markets, economic growth and the future investment environment.
As the importance of and attention to AI continue to grow, we are working hard at J.P. Morgan Asset Management to share our insights on the many questions regarding this technological wave. Please stay tuned for more insights by visiting the Market Insights homepage.
In today's episode, Dr. David Kelly is joined by Phil Camporeale, portfolio manager in our Multi-Asset Solutions group at JP Morgan Asset Management. Phil manages portfolios with a global opportunity set, and in doing so is actively making decisions on how to allocate the pieces of the pie within portfolios. What's the optimal mix of stocks versus bonds? And then how do you allocate within those sleeves? Where can you get the best bang for your buck in terms of returns, while also managing risk in portfolios amidst an uncertain macro outlook? These decisions largely depend on relative valuations, the outlook for interest rates and growth, and the relative attractiveness of yields. In this episode, we’ll hear form Phil on how he’s shifting the dials in portfolios right now, and the slice he's allocated to fixed income.
After significant monetary tightening over the last year, the Federal Reserve has now hiked rates all the way up to a range of 5-5.25%, but this tightening cycle may finally be at a close. With elevated risk of a near-term recession, markets are now expecting the Fed to pivot to rate cuts before the end of the year. For investors, an environment where economic conditions are looking precarious, and rates may soon be headed downwards, an active approach towards fixed income exposure is particularly important. On today's episode, we're going to focus on municipal bonds, which may be an effective way for investors to access high-quality and attractive tax-exempt yields in portfolios, particularly when heading into a downturn. To discuss this, Dr. David Kelly is joined by Richard Taormina, a portfolio manager for several municipal bond strategies here at JP Morgan Asset Management.
For more insights on the Guide to the Markets, visit the link here.
So far this year, investors have had to contend with the implications of a regional banking crisis, a still-hawkish Fed, and rising expectations for a near-term recession. With economic risks elevated, the challenge for debt investors is to strike the right balance between risk and return in portfolios, while maintaining a focus on credit quality. These two risks – interest rate risk and credit risk – can have important implications for bond performance in an environment where the Fed may soon pivot to rate cuts, but likely in response to a U.S. recession. On today's episode, Dr. David Kelly is joined by Andrew Norelli, Portfolio Manager for several multi-sector fixed income strategies here at J.P. Morgan Asset Management, to dive into the outlook for the economy and interest rates, and what this all means for striking the right balance between credit and duration in fixed income portfolios.
So far this season, we've talked about the bond market from a number of different angles and in this episode we look at fixed income as a global asset class. In our recently launched 2Q23 Guide to the Markets, we have a chart that shows that the majority of global debt is international, with the U.S. share accounting for less than 40% today. Moreover, divergent central banks and brighter growth prospects overseas paint a different fundamental landscape than that of U.S. fixed income assets. On today's episode, Dr. David Kelly is joined by Iain Stealey, International Chief Investment Officer within the Global Fixed Income, Currency and Commodities (GFICC) group, to dive into the outlook for global monetary policy and what this means for opportunities in international bonds.
Access the Guide to the Markets here. For more resources visit the On the Minds of Investors webpage.
Plenty has happened over the last few weeks—Silicon Valley Bank collapsed, Credit Suisse was taken over by UBS, and several other pressures emerged among regional banks. These events and their implications for credit conditions and monetary policy have sent markets through a series of twists and turns and raised questions about the risk of a US recession later this year. On this episode, Dr. David Kelly is joined by Kelsey Berro, Portfolio Manager on our Global Fixed Income, Currencies and Commodities Group, for a discussion on these issues and how it's shaped both the outlook going forward and the fixed income landscape.
This episode dives into positioning within fixed income. Dr. David Kelly is joined by Bill Eigen, portfolio manager for an unconstrained fixed income strategy at J.P. Morgan Asset Management. Bill offers a unique perspective, as his fund uses an opportunistic go-anywhere strategy that aims at delivering positive returns – no matter what’s happening in fixed income markets. In today’s particularly uncertain macro environment, Bill offers important insights on where he’s seeing opportunities, what areas he’s steering clear from and his latest thoughts on the markets and economy.
For more insights, tune into the Notes on the Week Ahead podcast and follow David Kelly on LinkedIn.
This episode kicks off our sixth season of Insights Now, entitled a “A Bond's Eye View", and we've decided to center this season around fixed income. Over the course of this season, Dr. David Kelly will sit down with slate of market strategists and portfolio managers to discuss the outlook for the Fed and other global central banks, the outlook for the dollar, diversifying within fixed income and how to think about bonds when positioning long-run investment portfolios.
On this episode, Dr. David Kelly is joined by Jordan Jackson, Global Market Strategist at J.P. Morgan Asset Management, to discuss the outlook for the Fed and opportunities within fixed income.
For more insights on fixed income investing, please visit our latest piece Bonds are Back.
As we plan for our next season, please provide your thoughts and any suggestions on our podcast. You can reach out to our team, Market Insights, at mi.questions@jpmorgan.com.
2022 has been a brutal year for investors, with unusually large sell-offs in both stocks and bonds resulting in one of the worst years ever for balanced investing. However, 2023 may be the calm after the storm of this year, with markets stabilizing, inflation receding and the Fed nearing the end of its tightening cycle. Moreover, precisely because markets have been so battered, lower equity valuations and higher bond yields present some of the most attractive entry points for investors in over a decade.
On our last episode of this season, I am joined by Jack Manley, Global Market Strategist at J.P. Morgan Asset Management to discuss the key takeaways from our Investment Outlook for 2023 and the importance of asset allocation in a challenged environment.
Tune in to hear Dr. David Kelly and Bob Michele, CIO and Head of the Global Fixed Income, Currency & Commodities group, discuss the outlook for fixed income and how investors can take advantage of opportunities.
Higher rates and rising inflation have created a particularly challenging environment for bonds this year, with the U.S. Agg. down a whopping 13% year-to-date. However, the selloff has also brought valuations down to their most attractive levels in years, and the backup in yields means bonds can once again provide investors with a reliable source of income and diversification. While economic uncertainties remain about the timing of a Fed pivot and the potential for U.S. recession, the case for bonds is as strong as it's been in over a decade.
To discuss the outlook for fixed income markets and how investors can take advantage of these opportunities, Dr. David Kelly is joined by Bob Michele, CIO and Head of the Global Fixed Income, Currency & Commodities group, at JP Morgan Asset Management.
Earlier this month, Americans went to the polls for the midterm elections. While some were expecting a red wave, what resulted was more of a red ripple with Republicans garnering a slim majority in the House and Democrats likely maintaining control of the Senate. In today's politically polarized climate, divided government means gridlock, and as the country grapples with high inflation, the potential for recession and heightened geopolitical tensions, this will have important implications for the kind of government action or lack thereof, we may see over the next two years.
On this episode, I am joined by Michelle Mesack, Head of Federal Government Relations at JP Morgan Chase with extensive experience in government and public policy, as well as my colleague Meera Pandit, Global Market Strategist at J.P. Morgan Asset Management, to discuss the main takeaways for investors from the midterm elections.
The global pandemic, supply chain problems and heightened geopolitical tensions from Russia's war in Ukraine have all raised questions about whether the long trend towards globalization is being thrown into reverse. Our 2023 Long Term Capital Market Assumptions, available now, features a paper that tackles the future of globalization. In this episode, Stephanie Aliaga interviews two of the authors from the paper, Dr. David Kelly and Kerry Craig, to discuss the potential future paths of globalization, and implications of a multi-polar world order for the global economy, inflation and valuations.
Episode topics: History and drivers of globalization (1:18), Russia-Ukraine (8:00), future paths of globalization (9:55), global energy transition (16:40), trade in goods vs. services (19:08), implications for the dollar (21:50), implications for inflation (24:15), regional winners and loser (26:45), China (30:32), valuations and sector outlook (32:15).
We also encourage you to also read the full report, linked here.
In this episode, Dr. David Kelly is joined by David Lebovitz, Global Market Strategist for J.P. Morgan Asset Management, for a discussion on the outlook for U.S. equities and what investors can expect from 3Q22 earnings season. Higher inflation, higher interest rates and slowing consumer demand have all posed considerable headwinds to U.S. equities and contributed to the large selloffs experienced in markets this year. As third-quarter earnings season kicks off, investors are hoping to gain insight into how earnings, revenues and margins are holding up as the macro environment gets rockier. While the risks dampening investor sentiment right now are very real, valuations have also come down significantly, paving the way for potentially very attractive expected returns going forward.
In an already challenging year for markets, the energy crisis in Europe and recent fiscal actions by the UK government have rattled market sentiment and caused further disruption to currency and global bond markets. A higher reliance on Russian supply has put Europe in a particularly vulnerable position as winter approaches, with electricity prices soaring and increased risk of gas shortages. All of this, and its consequences for consumer spending and business confidence, has increased the likelihood of a near-term recession in Europe. On today's episode, Dr. David Kelly is joined by Hugh Gimber, Global Market Strategist, to shed some light on these issues and the outlook going forward for the UK and Europe.
This episode kicks off our fifth season of Insights Now. Over the course of this season, Dr. David Kelly will sit down with a slate of market strategists and subject matter experts to discuss topics such as the implications of aggressive Fed tightening, the European energy crisis, equity market volatility, and the future of globalization to try to provide some insight into investing in this very stormy climate.
On the episode, we tackle important questions for investors surrounding the outlook for the Federal Reserve. After a slow start, the Fed is now reacting very aggressively to higher inflation, boosting interest rates across the board and threatening the economy with recession. As markets have come under intense pressure from this increased hawkishness, it is an opportune time to have a conversation with our fixed income strategist at J.P. Morgan Asset Management, Jordan Jackson on positioning portfolios amidst this environment of higher rates, elevated inflation and market volatility.
Investors have had a challenging year so far, however, while outlook remains cloudy, investors should remember that the U.S. has always been an economy of long summers and short winters. While winter may be coming soon, much of the "bad news" might already be priced into markets, and investors may be wise to take advantage of the correction in valuations to position portfolios for the long summer, or expansion, ahead. For the last episode this season, Dr. David Kelly is joined by Jack Manley, Global Market Strategist at J.P. Morgan Asset Management, for an insightful conversation on navigating investing in troubled times.
For additional resources please visit Principles for successful long-term investing. We'd also love to hear your thoughts and any suggestions you may have on our podcast as we plan for our next season. You can reach out to our team, Market Insights, at mi.questions@jpmorgan.com.
2022 has been a challenging year for most public asset classes, leaving many investors at odds on how to position portfolios, protect against inflation and identify areas for potential excess returns going forward. While markets have been more challenging, the need for income, capital appreciation and capital preservation has not changed. That’s where alternative investments may provide some solutions.
On this episode, Dr. David Kelly is joined by David Lebovitz, Global Market Strategist, to discuss the outlook for Alternatives in an environment with higher rates and slower growth.
For more information on the Guide to Alternatives, please visit our website here.
As investors mull recession risks, they will also soon have to grapple with the midterm elections and how changes in politics may cause uncertainty in the economic outlook. As rates have risen on the back of Fed tightening, does this pose an issue for the government's ability to service the debt? After two years of extraordinary fiscal stimulus, what is outlook for fiscal spending going forward and what are its implications for investors?
On this episode, Dr. David Kelly is joined by Meera Pandit, Global Market Strategist, to discuss politics and the fiscal outlook ahead of the midterm elections, in a conversation moderated by Stephanie Aliaga, Research Analyst.
The equity markets have seen a tumultuous and fairly disappointing few months in 2022. Investor sentiment has turned extremely bearish due to a land war in Ukraine, a more hawkish and aggressive Fed, and rising and persistent inflation. On this episode, Dr. David Kelly is joined by Andrew Tyler, Head of U.S. Market Intelligence, to discuss the current state of equity markets, the factors driving recent volatility, the takeaways form 1Q22 earnings season and the further implications of the Fed's rate hiking cycle on equity markets.
For additional insights on the 1Q22 earnings season, check out our latest bulletin written by David Lebovitz and Nimish Vyas.
While the 21st Century has seen a wide variety of housing markets with massive booms and busts, never in all these years, have there been so few properties on the market. This has fueled a surge in home prices that might look reminiscent of the 2006 housing boom. On this episode, Dr. David Kelly is joined by Mike Kelly, Head of US Real Estate, to discuss the current housing market, the surge in housing costs, and the long term impacts of the pandemic on certain real estate sectors. For additional insights, visit our On the Minds of Investors webpage.
The last few months have seen a swift and significant recalibration in markets. Inflation looks to be higher and stickier than previously assumed. The Fed has shifted more hawkish, now penciling upwards of seven hikes in 2022 and eyeing a faster pace of balance sheet reduction. On this episode, Dr. David Kelly is joined by Phil Camporeale, Portfolio Manager on the Multi-Asset Solutions group at J.P. Morgan Asset Management, to discuss asset allocation in an environment with higher uncertainty on interest rates and inflation. In light of recent geopolitical events , we are reminded that there is always the potential for unknown shocks to disrupt the investment outlook. Tune in to hear how Phil Camporeale is building resiliency in diversified portfolios to navigate today's bumpy environment and invest for the long haul.
For additional insights from Dr. David Kelly, check out the Notes on the Week Ahead podcast and newsletter on Apple, Spotify and LinkedIn.
The Federal Reserve recently hiked interest rates for the first time since 2018 and delivered a hawkish surprise to investors by way of its updated dot plot and economic projections. Since the Fed cut rates to zero in March 2020, the U.S. economy has well recovered with inflation running persistently well above the Fed's 2% target. On this episode, Dr. David Kelly is joined by Jordan Jackson, Global Market Strategist at J.P. Morgan Asset Management, to discuss the new outlook for the Fed and the risks that surround their decision to quickly tighten policy. Can the Fed's more aggressive stance put the economy into a recession? Or are the risks of waiting to tighten just too high? What does all this mean for investors?
For additional insights on the Fed, check out Jordan Jackson's recent On the Minds of Investors article "How might markets perform as the Federal Reserve hikes interest rates?" linked here.
The Russian invasion of Ukraine has brought horrible human consequences, but for investors it’s also raised a lot of questions. On this episode, we review the broad implications of the Russian invasion for investors in a special roundtable interview. Dr. David Kelly is joined by David Maccarrone, equity research analyst at J.P. Morgan Asset Management, and retired General Mastin Robeson, member of the Academy Security's Geopolitical Team, in a discussion moderated by Stephanie Aliaga, Research Analyst at J.P. Morgan Asset Management. General Robeson sheds light on the current state of play in geopolitics and the scenarios that may unfold, while David Maccarrone and Dr. Kelly discuss the implications around commodities, inflation, and fiscal and monetary policy.
For additional insights from Dr. David Kelly, check out the Notes on the Week Ahead podcast and newsletter on Spotify, Apple, and LinkedIn.
On today's episode, Dr. David Kelly is joined by Meera Pandit, Global Market Strategist at J.P. Morgan Asset Management, to discuss the efforts against climate change and the investment opportunities that may underlie this transition towards a more sustainable future. As the need to fight climate change has become more pronounced, sustainable investing has increasingly come into focus for investors. This episode discusses the outlook for U.S. climate spending, Europe’s energy transition as the conflict in Russia-Ukraine flares up, China and its green initiatives, and the investment opportunities in agriculture, transportation, food and water, and energy efficiency. Tune in to hear two of J.P. Morgan’s thought leaders discuss these issues and more.
To learn more about the opportunities in sustainable food & water, read Meera Pandit’s latest On the Minds of Investors article.
For additional insights from Dr. David Kelly, check out the Notes on the Week Ahead podcast and newsletter on Spotify, Apple, and LinkedIn.
On the first episode of Season 4, Dr. David Kelly is joined by Gabriela Santos, Global Market Strategist at J.P. Morgan Asset Management, to discuss what investors should expect from China in the Year of the Tiger and beyond. As China rings in the New Year, the road ahead holds substantial political and economic significance, from the Winter Olympics in Beijing to the Communist Party's 20th National Congress. China also faces substantial challenges in managing a potential property bubble, zero-tolerance approach to Covid and contentious international relationships. However, for investors, cheaper valuations and China's emphasis on growth stability with easy monetary and fiscal policies have supported the case for adding Chinese assets to portfolios. Tune in to hear two of J.P. Morgan's thought leaders discuss these issues and more.
For additional insights from Dr. David Kelly, check out the Notes on the Week Ahead podcast and newsletter on Spotify, Apple, and LinkedIn.
To read more from our thought leaders at J.P. Morgan Asset Management, visit our On the Minds of Investors blog.
Dr. David Kelly sits down with Jack Manley, Global Market Strategist at J.P. Morgan Asset Management to discuss the investment outlook for 2022. Despite the continued pandemic, the U.S. economy saw a powerful recovery in 2021 across equity markets, the labor market, and overall economic growth. Yet in recent months, investors have had to weigh a series of risks to both economic growth and market returns: the Fed is shifting more hawkish, inflation has surged, and valuations sit at lofty levels. Looking forward to 2022, what does this backdrop mean for investing? Where are the best opportunities for tactical positioning and strategic long-term investing?
On today’s episode Dr. David Kelly sits down with Michael Conrath, Head of Education Savings at J.P. Morgan and author of the College Planning Essentials publication, to discuss the importance of saving for college and how to accumulate these savings most efficiently. What is a college education worth against the rapid rise in college tuition over the past few decades? Can families depend on financial aid or fiscal policy to cover most of these expenses? If you can’t rely on aid, how should families invest for high education expenses? What are the benefits of saving? Tune in to hear two of J.P. Morgan’s thought leaders discuss these questions and more.
On today’s episode Dr. David Kelly sits down with Karen Ward, Chief Market Strategist for EMEA at J.P. Morgan Asset Management and author of the Europe and UK Guide to the Markets publications, to discuss the outlook for Europe. After disruptions from “Brexit” seem have settled down, the onslaught of the pandemic paved the way for a togetherness of Europe not seen in decades. The EU Recovery Fund may be just the accelerant to growth in Europe that investors have been waiting for. Still, European stocks are trading at some of their cheapest levels relative to the U.S. in history, and proponents have hailed Europe as an investment opportunity for years with little reward, is this time any different? Tune in to hear two of J.P. Morgan Asset Management’s thought leaders discuss the opportunities and challenges for Europe in the context of the post-pandemic global economy.
On today’s episode Dr. David Kelly sits down with David Lebovitz, Global Market Strategist at J.P. Morgan Asset Management and author of the Guide to Alternatives publication, to discuss the role of alternative assets in portfolios. Investors have been increasingly interested in alternatives, but for many, this is still unfamiliar territory. How should we think about investing in alternatives vs. traditional stocks and bonds? Against a backdrop of rising inflation and interest rates where the outlook for fixed income looks increasingly challenged, could alternatives be a solution? Tune into hear two of J.P. Morgan Asset Management’s thought leaders discuss the opportunities and challenges for this asset class in the context of this new inflationary environment.
On today’s episode Dr. David Kelly is interviewed by Stephanie Aliaga, strategy analyst at J.P. Morgan Asset Management, to discuss the advent of cryptocurrencies and whether this new asset class should have a place in portfolios. Can cryptocurrencies achieve their fundamental goal of being a store of value and payment system? How do cryptocurrencies function as an asset class, and is there a benefit them as an allocation in portfolios? Tune in to hear Dr. Kelly’s take on the matter, and other issues pertaining to ESG concerns, regulatory risk, and the broader blockchain revolution.
On today’s episode Dr. David Kelly is joined by Nick Leventis, senior healthcare analyst for the Innovators strategy at J.P. Morgan Asset Management, to discuss the genomic health revolution. Healthcare spending now amounts to almost 18% of GDP and chronic conditions are on the rise while baby boomers are just beginning to retire. The need for high quality care is becoming more and more important. Genomics, or the study of genes, is making it possible to predict, diagnose, and treat diseases more precisely and personally than ever before. This technology has been key in the creation of a viable and dynamic Covid-19 vaccine, but it has also heralded advancements in sequencing and machine learning, liquid biopsy, proteomics, etc.
On today’s episode Dr. David Kelly is joined by Manish Goyal from J.P. Morgan Asset Management, who has over 25 years of investment experience in the tech industry and manages strategies that focus on digital evolution and innovation. The pandemic accelerated years of technological adoption and innovation, with strides made in the digitization of the consumer, integration of enterprise IT, and a massive migration of business, communication, and recreation to online platforms. As we look past the pandemic to a new normal, what are the drivers for technology from here? How can productivity continue to accelerate for businesses and workers? With valuations of Tech at levels not seen since the Tech Bubble, are asset prices for tech inflated? Are the recent regulatory actions from the Chinese government apart of a broader global trend that could pose a threat to Big Tech? Finally, where are the best opportunities for investors today?
On today’s episode Dr. David Kelly is joined by Gabriela Santos, Global Market Strategist at J.P. Morgan Asset Management, to discuss the recent developments in China and how they fit into the context of China’s long term growth story. While Chinese markets were the strongest outperformers in the pandemic-stricken year of 2020, they have since experienced significant bumps along the road as a result of a new regulatory crackdown and resurgence of coronavirus cases. This has weighed on equity market sentiment and caused some steep market selloffs. Is the China investment thesis still alive and well? Other discussion topics include: China’s 5-10 year growth outlook, its declining birth rate, President Xi Jinping’s emphasis on targeting inequality, U.S.-China relationship under the Biden administration, the situation with Taiwan, and the strength of Chinese fixed income markets year-to-date.
Another way to access this podcast and all of our timely insights on the markets and economy is through the J.P. Morgan Insights App. Download via the App Store, or from our website linked here: https://awm-mi-services.jpmorgan.com/mi-services/html/app-store-redirect.html
On today’s episode Dr. David Kelly is joined by Meera Pandit, Global Market Strategist at J.P. Morgan Asset Management, to discuss the outlook for further fiscal stimulus with the infrastructure bill and budget reconciliation bill making their way through Congress. Discussion topics include: details of the infrastructure bill and Biden’s green energy ambitions, expectations for the larger budget reconciliation bill, the possibility of a debt-ceiling standoff, the 2022 midterms, and the potential for higher taxes and slower economic growth as we emerge from this period of extraordinary fiscal spending.
To read more about our thoughts on fiscal spending and other timely investment issues, check out our On the Minds of Investors blog: https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/market-updates/on-the-minds-of-investors/
On today’s episode Dr. David Kelly is joined by Sarah Kapnick, J.P. Morgan’s Climate Scientist and Sustainability Strategist, with a discussion on the sobering realities of climate change and the opportunities for policy and investment solutions. Discussion topics include: the UN climate body’s striking report on climate change, western droughts and the threat to food and power supply, agriculture inflation, the Biden Administration’s climate agenda, and the opportunities for sustainable investing and technological innovation to drive resilience and mitigation efforts.
Read Sarah Kapnick’s latest paper on western droughts here: https://am.jpmorgan.com/us/en/asset-management/adv/insights/portfolio-insights/sustainable-investing/preparing-for-climate-change-how-drought-will-change-the-us-west/
On today’s episode Dr. David Kelly is joined by Jordan Jackson, Global Strategist on the Market Insights Team at J.P. Morgan, for a discussion on the Fed’s timetable for reducing accommodation as the economy shows signs of a durable recovery. Discussion topics include: comparison to the last “T-up to taper” period in 2013, technical challenges of reducing accommodation, the Fed’s involvement in MBS markets, drivers behind the decline in long-term yields, and the implications for fixed income investors.
Tune in to hear Dr. David Kelly and Michael Cembalest, two of J.P. Morgan’s most respected thought leaders, discuss the most pressing questions for investors as we head into the second half of 2021.
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Tune in to hear Dr. David Kelly and Ted Dimig, Head of Advisory and Core Beta Solutions, discuss model portfolios and how they can be used to benefit your clients.
Tune in to hear Dr. David Kelly and Jeff Geller, who serves as a Chief Investment Officer of our Multi-Asset Solutions group, discuss portfolio allocation decisions across a global opportunity set.
Tune in to hear Dr. David Kelly and Andrew Norelli, who serves as a portfolio manager for several global fixed income strategies, consider the impact of a reflationary environment.
Tune in to hear Dr. David Kelly and James McNerny, lead portfolio manager of the actively managed JPMorgan Ultra-Short Income ETF, discuss how to make the most of your cash in a world of low yields.
Tune in to hear Dr. David Kelly and Michael Schoenhaut, lead portfolio manager of the JPMorgan Income Builder Fund discuss how to achieve income in today's low bond and dividend yields world.
Tune in to hear Dr. David Kelly and Giri Devulapally, lead portfolio manager for the Large Cap Growth strategy here at JPMorgan Asset Management discuss opportunities in technology trends over the long term.
Tune in to hear Dr. David Kelly and Yazann Romahi, who manages a quantitative beta strategies team here at JP Morgan Asset Management discuss the increased interest in factor investing.
Tune in to hear Dr. David Kelly and Jennifer Wu, Global Head of Sustainable Investing here at J.P. Morgan Asset Management discuss the increased interest in ESG investing.
Seeking long-term capital appreciation by investing in companies who are leaders in sustainability? Click here.
Tune in to hear Dr. David Kelly and Richard Taormina, head of the Tax Aware Strategies team here at J.P. Morgan Asset Management discuss how to protect your portfolio in a rising rate environment.
Seeking to balance tax-free income with capital preservation? To learn more Click here.
Tune in to hear Dr. David Kelly and Hamilton Reiner, head of U.S. Equity Derivatives here at J.P. Morgan Asset Management discuss how investors can participate in the equity market.
Additional Description: Seeking to address several distinct investment needs? To learn more Click here.
Dr. David Kelly and Shane Duffy, lead portfolio manager of the International Equity Group here at J.P. Morgan Asset Management discuss if investors should increase exposure to international equities.
Seeking to Invest in foreign developed markets and, opportunistically, in emerging markets? To learn more Click here.
Tune in to hear Dr. David Kelly and Clare Hart, Lead Portfolio Manager of the Equity Income Fund here at JP Morgan Asset Management to discuss if investors should take a closer look at value in 2021.
Seeking lower volatility access to stock market growth? To learn more Click here.
Tune in to hear Dr. David Kelly and Jordan Jackson, Global Market Strategist, discuss how low interest rates have made the fixed income environment even more challenging for investors.
Searching for income across a variety of asset classes? To learn more Click here.
Tune in to hear David Kelly and David Lebovitz, Global Market Strategist, discuss how the energy industry is evolving over the long-term.
Seeking to deliver monthly distributable income and equity market exposure with less volatility? To learn more Click here.
Tune in to hear David Kelly and John Bilton, Head of Global Multi-Asset Strategy, discuss the key themes and issues that are going to drive both economic growth, inflation, monetary and economic policy, and ultimately asset returns.
There's growth to be found when you know where to look. To learn more Click here.
Tune in to hear David Kelly and Global Market Strategist, Samantha Azzarello discuss the key tenets of behavioral finance that every investor should be aware of. There's growth to be found when you know where to look. To learn more click here.
Many trends that persisted before 2020 have been accelerated by the COVID crisis, including dramatic shifts in demographics. Baby boomers, the largest generation ever, are aging and deaths are on the rise. Immigration has essentially halved compared to three years ago. And last year we saw the lowest birth rate ever.
Technological change is, of course, the most powerful force shaping the economy of the future. Tune in to hear David Kelly and Global Market Strategist, Jack Manley discuss how the impact of technological innovations is shaping the world and the investment environment both today and in the decades ahead.
For global markets, there is no long-term issue greater than the growth and evolution of China as an economic superpower. Tune in to hear David Kelly and Global Market Strategist, Gabriela Santos discuss the extraordinary progress in China’s economy.
