JP Morgan's Marko Kolanovic Sees Good and Bad News for Risk Assets in 2023
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JP Morgan's Marko Kolanovic sees good and bad news for risk assets in 2023.
- good news is that central banks will likely be forced to pivot and cut interest rates sometime next year
- The bad news is that this will require central banks (primarily the Fed) to cut interest rates, and in order for that pivot we will need to see some combination of more economic weakness, an increase in unemployment, market volatility, decline in levels of risky assets, and decline in inflation. All of these are likely to cause or coincide with downside risk in the near term.
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