Watch the video version on YouTube. Over the last decade, extraordinarily low interest rates have made it difficult for investors to generate income within portfolios. While rates have risen over the past two years, so has bond market volatility and a higher correlation between stocks and bonds has made the search for uncorrelated sources of income even more difficult. However, at the same time, infrastructure has built a strong track record of generating steady income while exhibiting low...

Watch the video version on YouTube. Coming out of the pandemic. Fiscal and monetary stimulus provided support for fundraising deals and exit activity within the private equity market. Even as fiscal stimulus has waned and the Federal Reserve has tightened policy. Better than expected economic activity and earnings have supported recent performance. For investors looking to supplement their public equity allocations, private equity can help enhance portfolio returns, as it has done for...

Watch the video version on YouTube.  Portfolio Managers from across J.P. Morgan Asset Management to help shed some light on the rapidly growing and increasingly important world of alternatives. These conversations will range from broad overviews of the entire opportunity set, to asset class-specific deep dives across private equities, private credit, real estate and more. Since 1950, the classic 60/40 stock-bond portfolio has delivered a strong annualized return of 9.3%. However, with...

This year had no shortage of surprises for investors, from strong returns in stock markets to the impressive resilience of the U.S. economy. Along the way, we’ve confronted all sorts of shocks: a new war in the Middle East, Washington dysfunction, even higher interest rates while the labor market and consumer have seen continued strength. As we look to 2024, there is cause for both concern and optimism. A soft landing is still in view, but there’s a number of risks that could potentially...

Watch the video version on YouTube.  Successful long-term investing requires both the flexibility to navigate the ever-changing market tides and an engine of long-term assets to carry you forward. In this episode, we’re going to talk about both—how investors can build portfolios to navigate volatile market environments and generate better long-term returns. Such an endeavor requires an in-depth understanding of portfolio composition, the drivers of risk and return and the right mix of asset...

Watch the video version on YouTube.  The menu of investment solutions has evolved dramatically over the last 10 years, as innovation in financial planning tools has enabled the development of customized and flexible strategies. This episode discusses one of model portfolios. With increased efficiency, better customization, and greater flexibility, model portfolios are built to navigate unpredictable market cycles while maintaining a focus on the needs of investors. Dr. David Kelly is joined...

Watch the video version on YouTube.  Regardless of where you are in life, you need a plan for the future, and for most Americans, that involves planning for retirement. The task can feel overwhelming at times and easily be pushed aside for later, more pressing times. However, a well-constructed plan for the future not only helps ensure a secure retirement, but can be a powerful engine for savings and wealth generation. For today’s episode, Dr. David Kelly is joined by Michael Conrath, Chief...

Watch the video version of this podcast on YouTube.  New and innovative technologies have disrupted industries time and time again, creating more efficient ways to reach desired outcomes. The financial services industry is no exception, and options for investing today look far different than they did 100 years ago. The exchange traded fund, or ETF, is one example of these technologies changing the ways that we invest. Investors may associate ETFs with passive management, but the recent growth...

Watch the video version of the podcast on YouTube. In this episode, we dive into alternative assets. Alternatives have seen incredible growth in the last decade, and have provided new strategies for investing in public and private markets, as well as better ways to generate alpha, income and diversification in traditional stock and bond portfolios. There are many kinds of alternative assets, and all have specific benefits and risks that require investors to understand each of them...

As we wrap up our summer series, Market Movers, Dr. David Kelly is joined by Michael Feroli, Chief U.S. Economist for the JP Morgan Investment Bank, to dive into the outlook for the U.S. economy and the Federal Reserve (Fed). Inflation has continued to moderate and economic data has proved resilient since the Fed’s July meeting, raising hopes for a soft-landing. Meanwhile, stock markets have continued to fare much better with investor sentiment resembling the start of a new bull market. For...

Watch the episode on YouTube.  While the broader economy has remained resilient this year, the real estate sector has faced its fair share of headwinds. Higher mortgage rates and home prices have weighed on the residential sector and tighter lending conditions following the regional banking crisis have created a challenging backdrop for commercial real estate. Additionally, it remains unclear whether pandemic-induced disruptions are merely temporary road-bumps, or the beginnings of a new...

Watch the video version of this podcast on our YouTube channel. For our second episode of Market Movers, Dr. David Kelly, Chief Global Strategist, is joined by Jack Manley, Global Market Strategist, to discuss the next generation of investors. They dive deep into how this younger demographic is shaping the investment environment and driving key themes in the markets today. For more resources on investing for the next generation please reach out to your J.P. Morgan representative and visit our...

Watch the video version of this podcast on our YouTube channel. Artificial intelligence (AI) technologies, particularly generative AI, appear likely to revolutionize the way we work, innovate and create. This disruption can have significant economic implications, with the most significant likely to be accelerating labor productivity, and thus economic activity, after years of stagnation. In the first episode of our summer series Market Movers, Dr. David Kelly, Chief Global Strategist, is...

As we conclude this season, which we entitled a Bond’s Eye View of the world, a lot of core arguments for adding fixed income at the start of the year still remain in place. So far, the Fed has continued to hike rates but they may, finally, be at the end of their tightening regime, and if we are at peak rates, that means now is the time for investors to lock in yields before they fall. Bonds could also provide portfolios with important diversification properties as we eye this next...

In today's episode, Dr. David Kelly is joined by Phil Camporeale, portfolio manager in our Multi-Asset Solutions group at JP Morgan Asset Management. Phil manages portfolios with a global opportunity set, and in doing so is actively making decisions on how to allocate the pieces of the pie within portfolios. What's the optimal mix of stocks versus bonds? And then how do you allocate within those sleeves? Where can you get the best bang for your buck in terms of returns, while also managing...

After significant monetary tightening over the last year, the Federal Reserve has now hiked rates all the way up to a range of 5-5.25%, but this tightening cycle may finally be at a close. With elevated risk of a near-term recession, markets are now expecting the Fed to pivot to rate cuts before the end of the year. For investors, an environment where economic conditions are looking precarious, and rates may soon be headed downwards, an active approach towards fixed income exposure is...

So far this year, investors have had to contend with the implications of a regional banking crisis, a still-hawkish Fed, and rising expectations for a near-term recession. With economic risks elevated, the challenge for debt investors is to strike the right balance between risk and return in portfolios, while maintaining a focus on credit quality. These two risks – interest rate risk and credit risk – can have important implications for bond performance in an environment where the Fed may...

So far this season, we've talked about the bond market from a number of different angles and in this episode we look at fixed income as a global asset class. In our recently launched 2Q23 Guide to the Markets, we have a chart that shows that the majority of global debt is international, with the U.S. share accounting for less than 40% today. Moreover, divergent central banks and brighter growth prospects overseas paint a different fundamental landscape than that of U.S. fixed income assets....

Plenty has happened over the last few weeks—Silicon Valley Bank collapsed, Credit Suisse was taken over by UBS, and several other pressures emerged among regional banks. These events and their implications for credit conditions and monetary policy have sent markets through a series of twists and turns and raised questions about the risk of a US recession later this year. On this episode, Dr. David Kelly is joined by Kelsey Berro, Portfolio Manager on our Global Fixed Income, Currencies and...

This episode dives into positioning within fixed income. Dr. David Kelly is joined by Bill Eigen, portfolio manager for an unconstrained fixed income strategy at J.P. Morgan Asset Management. Bill offers a unique perspective, as his fund uses an opportunistic go-anywhere strategy that aims at delivering positive returns – no matter what’s happening in fixed income markets. In today’s particularly uncertain macro environment, Bill offers important insights on where he’s seeing opportunities,...

This episode kicks off our sixth season of Insights Now, entitled a “A Bond's Eye View", and we've decided to center this season around fixed income. Over the course of this season, Dr. David Kelly will sit down with slate of market strategists and portfolio managers to discuss the outlook for the Fed and other global central banks, the outlook for the dollar, diversifying within fixed income and how to think about bonds when positioning long-run investment portfolios. On this episode, Dr....

As we plan for our next season, please provide your thoughts and any suggestions on our podcast. You can reach out to our team, Market Insights, at [email protected]. 2022 has been a brutal year for investors, with unusually large sell-offs in both stocks and bonds resulting in one of the worst years ever for balanced investing. However, 2023 may be the calm after the storm of this year, with markets stabilizing, inflation receding and the Fed nearing the end of its tightening cycle....

Tune in to hear Dr. David Kelly and Bob Michele, CIO and Head of the Global Fixed Income, Currency & Commodities group, discuss the outlook for fixed income and how investors can take advantage of opportunities. Higher rates and rising inflation have created a particularly challenging environment for bonds this year, with the U.S. Agg. down a whopping 13% year-to-date. However, the selloff has also brought valuations down to their most attractive levels in years, and the backup in yields...

Earlier this month, Americans went to the polls for the midterm elections. While some were expecting a red wave, what resulted was more of a red ripple with Republicans garnering a slim majority in the House and Democrats likely maintaining control of the Senate. In today's politically polarized climate, divided government means gridlock, and as the country grapples with high inflation, the potential for recession and heightened geopolitical tensions, this will have important implications for...