JPMorgan analyst: Risk assets set for ‘strong rebound’

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JPMorgan analyst: Risk assets set for ‘strong rebound’
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Due to the deteriorating overall economic situation, the cryptocurrency market has continued to be sluggish this year, especially the US consumer price index in August was higher than expected. Even so, global financial giant JPMorgan Chase sees a strong rebound in risk asset markets such as cryptocurrencies.

According to data from CoinGecko, the cryptocurrency market is generally higher today (20), with Bitcoin at $19,372 at press time, up 3% in the past 24 hours, but down more than 13% in the past 7 days; while Ethereum rose 4.2% to $1,363 , but fell more than 20% in the past seven days due to continued weakness after the merger.

JPMorgan believes that risk assets and stocks are now very close to a bottom.JPMorgan Chase global head Marko Kolanovic revealed that heoptimistic that the market will rebound, andIn the long run, “underweight investor holdings” and “relatively stable long-term inflation expectations” will prevent the market from falling further.

Marko Kolanovic believes the Fed will stick to its hawkish stance.According to his speculation, the Fed is likely to meet this week’s Federal Open Market Committee (FOMC) meetingDecided to hike 3 yards. He also believes that a 4-yard rate hike cannot be ruled out in the future.

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“CNBC” popular analyst Jim Cramer also revealed that inflation is hurting the stock market and corporate earnings. However, with most investors underweight equities, any good news could spur a rebound.

Marko Kolanovic expects the Fed to start cutting interest rates in early 2023, which will provide support for stocks before a strong rebound is expected.

The article JPMorgan Analyst: Risk Assets Will Usher in a ‘Strong Rebound’ appeared first on The Blocker.

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