Inflation & Interest Rates
Is our U.S. inflation view higher or lower in Mid 2025? What is our 2025 target range?
Lower, 2.10-2.30%
What is the divided yield of the S&P500?
1.3%
What does CBOS stand for and what is it called now?
customized bond onshore strategies and CBP (Customized Bond Portfolio)
when evaluating single stocks, please share three different metrics?
p/e, price to sales, free cash flow, price to book, eps, roe, d/e, current ratio, beta, PEG ratio
What price did JPM open at today?
$211.03
how many additional cuts does the PB (per the Oct GIS) expect in 2024? Mid-2025?
two more 25bp cuts and 4 more 25bp cuts through mid-2025.
What are the long term capital market assumptions for us large cap equities
U.S. large cap return expectations decline from 7.9% to 7.0%
What is our estimated Real GDP growth for year end 2024 (as stated in the October GIS) and was this revised up or down? In 2025?
1.75%-2.25%, up. 1.5%-2.0%, down.
mid 2025 price target for SPX (per October GIS)
5,875-5,975
Who is the CEO of AWM?
Mary Erdoes
What economic data point is the fed most focused on to determine future rate cuts?
Unemployment rate
What is the difference between fundamental and technical analysis?
Fundamental analysis utilizes a long-term time horizon which focuses on the intrinsic value and growth potential. Technical analysis uses historical price and volume data to forecast future price movements and subsequently capitalize on short-term price movements. Investments based on business fundamentals vs trading based on market trends and patterns.
What infrastructure need to build to support AI?
Data centers
what sector did the private bank equity team recently upgrade (per the October GIS)
Utilities
JPMorgan Private Markets Fund (JPMF) and KKR (K-PEC and K-PRIME) are examples of what?
Evergreen Private Equity
What investments fit in the category of extended credit?
High yield and preferreds
What is the dividend discount model?
a valuation method used to estimate the intrinsic value of a company’s stock via calculating the present value of all expected future dividends, assuming a constant growth rate.
Name two phases of an economic cycle and what type of indicator the stock market is.
expansion, peak, contraction, and trough. Leading indicator.
what are the private bank strategy team top sectors?
industrials, information technology, healthcare, utilities.
What does the JP stand for in J.P. Morgan?
John Pierpont
What is the expected neutral rate? What does this mean?
~3%. The real interest rate at which the economy is neither stimulated nor slowed down, i.e. the natural rate of interest in which the economy operates at full employment, capacity, and at a steady rate of inflation.
how do CIO portfolios implement nuanced sub sector views?
Six Circles
Name 2 topics from the US Presidential debate that would impact our macro economy and market views:
industrial policy including manufacturing/manufacturing capex, defense, energy, renewables, semiconductor independence, tariffs/China policy, fiscal/budget deficit/spending
What are the 3 largest sectors in the SPX
information technology, financials, and healthcare
What year did JPMorgan & Chase merge?
2000