JPMorgan’s Camporeale Says Balanced 10% Return Beats T-Bill Play
- Safe haven not the right place to be even with 5% yield
- He says recession odds drop to 25% as soft landing is likely
This article is for subscribers only.
JPMorgan’s Philip Camporeale says those Treasury bill investors happily collecting their 5% return need to wake up.
“They’re sitting there in the three-month bill at five-plus percent and they’re saying, ‘I’m safe here,’” the portfolio manager for multi-asset solutions at JPMorgan Asset Management Inc. told Bloomberg Television’s Surveillance on Tuesday. Meanwhile, a balanced fund is up 10% in the first six months of this year, so T-bill investors’ “opportunity costs just went up,” he said.