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JPMorgan Asset Management Says It’s Too Early to Buy Stocks

  • Global stocks rose last week on bets stimulus will help growth
  • Strategist Gimber favors shorter-duration government bonds
Bloomberg business news

March 30: JPM’s Kasman Expects Worst Global Contraction Since World War II

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JPMorgan Asset Management is cautioning investors against rushing to buy equities because the market remains susceptible to negative developments in the coronavirus crisis.

“I’m not yet confident in advocating overweight risk assets positions because you’re vulnerable in that scenario to a deterioration of the news on the medical front,” said Hugh Gimber, a global market strategist at JPMorgan Asset Management, in a phone interview. “The policy measures have helped but they’re not on their own enough for us to call a definitive bottom in this market.”