In recent decades, the U.S. economy has become more stable – the business cycle has certainly not been eliminated, but perhaps it has been tamed.
What would a successful DM public debt consolidation look like, based on successful past consolidations, and what are the obstacles today?
Over the past 50 years, the roles of public and private capital markets have changed slowly but profoundly – managing illiquidity risk remains critical.
We can’t predict how the next recession will unfold, but we can provide a framework to help investors prepare for late-cycle risks.
J.P. Morgan Asset Management's Long-Term Capital Market Assumptions draws on the best thinking of our experienced investment professionals worldwide.