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Dr. David Kelly: Hello, this is David Kelly.
I’m Chief Global Market Strategist here at J.P. Morgan Asset Management.
After one of the most extraordinary and difficulties in modern history, we’re all hoping for a better 2021 and there are good reasons for optimism. However many uncertainties remain about the pace of the global recovery, the duration and extent of further monetary and fiscal support, and appropriate valuations, particularly in U.S. equity and fixed income markets.
To help advisors navigate this environment, we have partnered with our Portfolio Insights team to devise scenarios that do not seek to predict the future, but rather to map out several different potential outcomes and then consider how these outcomes could impact investment portfolios.
These scenarios represent a potential shock to the markets and economy relative to current conditions, and the output illustrates potential impacts on any specific allocation that you upload to the tool.
While the COVID-19 pandemic has reminded us again of our inability to predict the future, it has also underlined the value of having a general sense of how markets could react under a variety of unexpected scenarios. Ultimately, our hope is that this scenario analysis can lead to fewer surprises in portfolio performance over a variety of market environments and thus can contribute to our goal of helping you build more resilient portfolios.
The Market Insights program provides comprehensive data and commentary on global markets without reference to products. Designed as a tool to help clients understand the markets and support investment decision-making, the program explores the implications of current economic data and changing market conditions.
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This document is a general communication being provided for informational purposes only. It is educational in nature and not designed to be taken as advice or a recommendation for any specific investment product, strategy, plan feature or other purpose in any jurisdiction, nor is it a commitment from J.P. Morgan Asset Management or any of its subsidiaries to participate in any of the transactions mentioned herein. Any examples used are generic, hypothetical and for illustration purposes only. This material does not contain sufficient information to support an investment decision and it should not be relied upon by you in evaluating the merits of investing in any securities or products. In addition, users should make an independent assessment of the legal, regulatory, tax, credit, and accounting implications and determine, together with their own financial professional, if any investment mentioned herein is believed to be appropriate to their personal goals. Investors should ensure that they obtain all available relevant information before making any investment. Any forecasts, figures, opinions or investment techniques and strategies set out are for information purposes only, based on certain assumptions and current market conditions and are subject to change without prior notice. All information presented herein is considered to be accurate at the time of production, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted. It should be noted that investment involves risks, the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Both past performance and yields are not reliable indicators of current and future results.
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