Equities Have a Little Bit More to Run, Says JPMorgan Asset Management’s Schowitz

The transcript discusses the cautious economic outlook, focusing on Hong Kong assets and the global market. It highlights the recent equity rally and its impact on bond yields, suggesting a cautious approach to risk. The discussion also covers trade talks between the US and China, noting early signs of market improvement. The industrial cycle is showing signs of bottoming, and the market's pricing of Fed actions is analyzed, with a focus on potential rate cuts.

What is the primary reason for the cautious approach towards Hong Kong assets?

• The assets are primarily technology-based.

• The assets are more related to mainland China.

• The assets are undervalued.

• The assets have high liquidity.

What recent market trend has led to an increase in bond yields?

• An increase in foreign investments.

• A decline in commodity prices.

• A decrease in interest rates.

• A steep rally in equities.

What signs indicate a potential improvement in the manufacturing sector?

• Increased consumer spending.

• Positive trade talks between the US and China.

• Rising unemployment rates.

• Decreased government spending.

What is the market's current expectation regarding the Federal Reserve's rate cuts?

• A rate increase is expected.

• Multiple rate cuts are expected.

• No further rate cuts are expected.

• A full rate cut is expected soon.

Under what condition might the Federal Reserve consider more rate cuts?

• If unemployment rates decrease.

• If inflation rates rise.

• If the economic news is negative.

• If the economic news is positive.