Analysts from J.P. Morgan Global Research take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.
Episodes
Friday Jul 21, 2023
Friday Jul 21, 2023
Catalyzed by the drop in US CPI inflation in June, near-term recession risk has moderated and the focus has shifted closer to the market’s favored scenario of a painless disinflation and economic soft landing. Amidst a broad-based rally in risky assets, commodities stand out as under-valued, under-owned, and backed by compelling fundamentals and technicals—a good entry point for a catch-up tactical allocation. The BCOM index gained 5% in July, but there is likely more where this came from. Should recessionary fears not materialize over the next six months, idiosyncratic risks leave the entire complex exposed to the upside, with the rally in BCOM extending. In order of preference, we favor natural gas, ags, oil and gold, and maintain neutral stance on base metals.
Speakers:
Natasha Kaneva, Global Commodities
Shikha Chaturvedi, Global Commodities
Gregory Shearer, Global Commodities
Tracey Allen, Global Commodities
This podcast was recorded on July 21, 2023.
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