We raised the probability of Recession to 55% after virus-induced shocks, oil prices’ collapse and violent market volatility. We are de-risking, adding very high quality duration, while expecting credit markets to cheapen and reserve currencies to do well
- 11 YEARS WITH J.P. MORGAN
- 39 YEARS IN THE INDUSTRY
Bob Michele, managing director, is the Chief Investment Officer and Head of the Global Fixed Income, Currency & Commodities (GFICC) group. Prior to joining the firm in 2008, Bob was at Schroder Investment Management for ten years, most recently serving as the global head of fixed income in London. Previously, Bob was a managing director at BlackRock from 1995 to 1998, responsible for managing core bond portfolios and developing credit strategies across all client mandates. Prior to that, Bob was at FirstBoston Asset Management as head of their US fixed income business and Brown Brothers Harriman managing taxable, total return portfolios for non-U.S. institutions. Bob began his career at Bankers Trust, working as an investment analyst and portfolio manager. He holds a B.A. in classics from the University of Pennsylvania, is a CFA Charterholder and has the Investment Management Certificate of the UK Society of Investment Professionals.