Cash Is Only Way to Limit Risk in Next Year, JPM’s Normand Says

The transcript discusses the economic impact of COVID-19 vaccines, predicting a stronger global economy with above-trend growth in 2021. It highlights the role of fiscal and monetary policies, suggesting that while fiscal policy may drag slightly, it won't hinder growth. The discussion covers cash deployment strategies, emphasizing the importance of maintaining some cash due to low bond yields. Alternatives to traditional hedges, such as defensive assets in currencies and commodities, are explored. Finally, it identifies credit and emerging markets as key areas for yield in 2021.

In what ways does the speaker suggest cash should be managed in the current economic environment?

What alternative hedging strategies does the speaker propose in light of current market conditions?