Central Banks
Don’t Get Blindsided By Cooling Prices, JPMorgan’s Michele Says
- Bond veteran can see Fed raising rates to as high as 6%
- Favors good quality, emerging-market local-currency debt
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When Bob Michele shares his investment views, it’s worth paying attention because the bond market veteran has proved to be pretty prescient.
The chief investment officer at J.P. Morgan Asset Management is warning that the Federal Reserve could continue the fight against inflation in the second half, pushing terminal rates to as high as 6%. That defies a growing consensus that interest rates will peak in June.