On March 23rd of last year, at the start of the coronavirus pandemic, the S&P500 briefly traded below 2,200. Since then it has more than doubled, surfing on a wave of corporate profits, in a sea of central bank liquidity. However, investors should recognize that this wave will face challenges going forward while the tide of monetary easing should turn. As this happens, a focus on valuations should be more rewarding than has been the case in recent years.
January 18, 2022
JP Morgan Asset Management
Our baseline view of the world does not include a U.S. recession in the next two years. However, it is certainly possible, and investors would be well advised to…