JPMorgan Says Major Assets ‘Overbought’ on Eve of Fed Easing
- Combined asset-manager positioning most extended in years
- Aberdeen Standard’s Adams prepares for rate-cut disappointment
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Investors betting the U.S. Federal Reserve is set to extend the market bonanza with a rate cut may have overplayed their hand.
JPMorgan Chase & Co. strategists are warning that a slew of risk markets are flashing “overbought” signals, with combined asset-manager positioning in U.S. equity futures the most extended in years. Aberdeen Standard Investments’ multi-asset team is preparing for disappointment as it lightens up on equity and emerging-market debt holdings ahead of the Fed’s meeting this week.