JPMorgan's Michele Sells the Credit Highs in First Since Crisis
- Michele sees recession risk amid damaged corporate confidence
- Asset manager systematically sells company debt on strength
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Bob Michele, JPMorgan Asset Management’s head of global fixed income, says for the first time since the financial crisis, he’s selling as corporate bond prices rise, instead of buying when prices fall.
Michele, who helps manage $512 billion in assets, spoke to Katrina Lewis and Claire Boston on June 24. Comments have been edited and condensed.