J.P. Morgan 2019 LTCMA Equity Market Assumptions
LTCMA 2019 Theme: The evolution of market structure. Managing illiquidity risk across public and private markets.
As the U.S. becomes entirely self-sufficient and even begins to become a net exporter of oil, it is likely to keep a lid on oil prices in the long-term.
Negative effects would occur in the context of an economy less energized by fiscal stimulus than was the case last year.
LTCMA 2019 illustration managing illiquidity risk across public and private markets.
Improving credit fundamentals, light tax-exempt supply and robust demand have driven the strong performance of municipal bonds in 2019.
The arrival of the bond bear market, continued normalizing of monetary policy and need to finance expanding U.S. budget deficits, long-term rates are set to rise.
Eye on the Market: The Verdict
Michael Cembalest analyzes the performance of over 6,700 domestic and international active equity managers, and discusses the challenges they face outperforming at a time of markets distorted by quantitative easing.