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JPM Private Bank's Weiheng Chen: US-CN Trade Relations Enter Transactional Truce; Fed Expected to Still Make 2 Rate Cuts
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After the meeting between Chinese President Xi Jinping and US President Donald Trump in South Korea, both countries agreed on a number of steps to ease trade tensions, Weiheng Chen, Global Investment Strategist at J.P. Morgan Private Bank, said. He believed that US-China trade relations have now moved into a shaky 'transactional truce'. Chen expected the two Fed rate cuts in the future, slightly less than what the market is pricing, and advised investors to reduce cash to lock in yields through high quality credit. On equities, Chen saw tech earnings and upwards capital expenditure revisions driving US markets higher, while other sectors see broadening performance based on stable macro fundamentals. AASTOCKS Financial News Website: www.aastocks.com |
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