The J.P. Morgan View – Global Asset Allocation: Add to cash and gold

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Cross-Asset Strategy: Equities rallied to YTD highs on optimism around a US debt ceiling resolution, a move that seems misplaced given they were never pricing in a material risk of failure to raise the ceiling to begin with, and as negotiations are far from complete. Even aside from the debt ceiling issue, we maintain that the risk-reward for equities is…

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