JPMorgan Strategist Urges Investors to Stay in Stocks After July CPI Report
- Sees more stock rewards as inflation heads to 2% by late 2024
- Also says bond market ‘better priced’ for first time in years
David Kelly
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
JPMorgan strategist David Kelly sees reasons for market optimism in Thursday’s US consumer price index report, with stocks rewarding patient investors and bonds providing a solid capital gain as inflation heads toward 2% by late next year.
“The bond market overall is better priced than it’s been for many, many years and I think there’s a one-time capital gain there as rates come down,” the chief global strategist for JPMorgan Asset Management Inc. told Bloomberg Surveillance. “There are better long-term capital gains to be made still in the equity market.”