Recognizing the likelihood of near term volatility due to the debt imbroglio, JPMorgan Chase & Co (NYSE:JPM) analysts Thomas J Lee, Joseph Abboud and Katherine C Khor nevertheless remain cautiously bullish and project the S&P 500 (INDEXSP:.INX) to scale 1,775 by the end of the year.
U.S. default – probably unlikely…
An interesting viewpoint: Stripped to the essentials the political logjam in Washington is really just a binary event (and risk) – will the U.S. default or not? “In our view, the probability of this is not sufficient to warrant a change to our thesis,” say the analysts.
Hedge funds and mutual funds have reduced beta
In the charts below the authors highlight that hedge funds and...
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