J.P. Morgan Asset Management Thought for the Month – building stronger liquidity strategies – let's solve it.

Thought for the Month

July June May April March February

July 2019

Beat the macroeconomic heat

As summer begins, fixed income and treasury investors are feeling the heat from macro uncertainty, low interest rates and the ageing credit cycle.

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June 2019

Defining cash for Australian investors

The definition of cash, while ostensibly straightforward – banknotes and coins – becomes increasingly challenging when the demands for higher returns counteracts the obligation to ensure adequate liquidity and the commitment to avoid losses.

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May 2019

From risk-off to risk-on

The market mood has changed dramatically over the last six months. The risk-off sentiment that dominated in late 2018 has very much been replaced by a risk-on attitude in 2019, mainly in response to the recent dovish shift in Federal Reserve policy.

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April 2019

Singapore’s MAS: Actions and words

Singapore’s de facto central bank, the Monetary Authority of Singapore (MAS), will hold its semi-annual monetary policy meeting in mid-April. Given the recent rapid changes in the global and regional economic outlook, market consensus for future policy direction remains divergent – but both the MAS’s actions and words could have significant implications for Singapore dollar cash investors.

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March 2019

Cash is back

After a decade of anaemic returns, cash rates moved decisively higher in 2018 – at least in the US. Three-month Treasury yields pushed through the 2% mark, while dollar money market yields actually rose above the yield available from many broader fixed income benchmarks.

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February 2019

What can Chinese money market fund investors expect for 2019?

China is experiencing a broad economic slowdown. GDP growth fell to a 28-year low of 6.4% year on year in the fourth quarter of 2018, as weaker domestic demand combined with escalating trade tensions to weigh on business and consumer sentiment. The strong fiscal and monetary policy response from the Chinese authorities to this slowdown should help to support growth, but will also have a significant impact on cash investment options and cash returns in 2019.

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