Current S&P 500 valuation is not leaving ‘any margin for error’ – JPMorgan By Investing.com
The consensus among “almost all economists” and the market supporting a soft landing leaves “any margin for error,” according to JPMorgan’s strategists.
“Crucially, unlike a year ago, when almost all economists and the market pricing had recession as a base case, both are in a soft landing camp now – perhaps one should be contrarian yet again,” the analysts said in a client note.
The banking titan anticipates that 2024 earnings projections are likely to move lower, while bond yields may have peaked.