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

Guide to the Markets

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We are pleased to present J.P. Morgan Asset Management’s 2Q 2019 Guide to the Markets containing our analysis of economic and market data through March 31, 2019. Below you will find key slides that we believe are the most relevant to liquidity investors.

A few months from now, during the summer, the current U.S. economic expansion should enter its 11th year, which would make this the longest U.S. growth period in the last century. Although we expect near-term U.S. economic data to still look constructive, global economic data is softening. Moreover, volatile market moves over the past two quarters are pointing to greater risks further out on the horizon. The Federal Reserve (Fed) has acknowledged growing challenges to the U.S. economy and is likely done with hikes for this cycle. What is important for liquidity investors is to have confidence in and stay true to an investment process that has provided stability in a variety of market conditions.

The 2Q 2019 Guide to the Markets attempts to provide a balanced view of both opportunities and risks in the investment environment. In particular, we examine:

  • A moderation in U.S. economic growth (pages 18, 19 and 21)
  • International economic growth and geopolitical risks (pages 46, 47, 48 and 50)
  • The end of the Fed tightening cycle and the yield curve (pages 29 and 32)
  • Market signposts of future risks (pages 15 and 33)

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