JPMorgan Says Stocks to Suffer $150 Billion Rebalancing Sale
JPMorgan Chase & Co. projects real-money portfolios, including those of sovereign wealth and pension funds, will tilt back in favor of bonds to meet allocation targets, in the largest rebalancing flows to the asset class since the fourth quarter of 2021. Japan’s $1.5 trillion Government Pension Investment Fund or GPIF, the world’s largest pension fund, …