Guide to the Markets - J.P. Morgan Asset Management

Guide to the Markets

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Key takeaways:

The eurozone economy has now dropped a gear, moving from above-trend to trend growth. Nevertheless, the ECB continues to guide the markets for higher rates to come. Whether the central bank actually manages to tighten and finally move rates out of negative policy remains to be seen. But with the Asset Purchase Programme recently stopped, European rates and credit markets will now have to manage without crisis support.

Guide to the Markets presents a wide range of macroeconomic data that can help liquidity investors assess the economic backdrop and position their portfolios against an uncertain backdrop. The Guide covers all the key issues, including:

  • Lead indicators - Considering risks of a global slowdown fuelled by a trade war/US recession have increased, investment intentions, and consumer and business confidence data will need to be closely monitored.
  • Inflation - With wage inflation still expected to pick up in the coming months, we will be closely monitoring the situation as this indicator will be central if the ECB is to justify higher rates in 2019.
  • Domestic demand - Improving labour market dynamics are allowing for a decline in the household savings rate and are providing investors with the confidence to embrace credit.

As you consider these important topics, we will be happy to share our market views and tailor liquidity solutions to best meet your needs.