JPMorgan Says Equities at All-Time Highs 'Make Sense'
Спикеры
Grace Peters
— Глава отдела глобальных акций, J.P. Morgan Private Bank
Grace Peters of JPMorgan Private Bank argues that equity markets at all-time highs are justified by rising capital expenditure. She expects oil prices to maintain a risk premium from Middle East tensions and recommends adding infrastructure and gold for portfolio resilience. Inflation remains a key risk to monitor.
- JPMorgan identifies fragmentation, AI, and inflation as three defining forces.
- Equities are supported by increasing CapEx linked to national and supply-chain security.
- Oil is expected to stay elevated with a geopolitical risk premium over the next 12 months.
- Infrastructure is recommended for inflation-protected income.
- Gold is suggested as a portfolio diversifier amid expected volatility.
- Hedge funds are considered useful but not directly tradeable.
- Inflation risk could rise with meaningfully higher prints expected.
- Portfolios are currently under-allocated to resilient assets.
Идеи
Oil retains risk premium for 12 months
Oil prices will remain elevated with a risk premium over the next 12 months due to ongoing Middle East tensions, regardless of a potential resolution.
Equities make sense at highs
Equity markets at all-time highs make sense because rising capital expenditure (driven by national security, energy security, and supply chain security) is creating economic value that flows to owners of risk, supporting the bull market.
Infrastructure offers inflation-protected income
Infrastructure is an attractive asset class for income with inflation protection, as it remains underwhelmed by the market and will benefit from structural CapEx trends.
Gold adds resilience to portfolios
Gold is a beneficial addition to portfolios for diversification and resilience, especially in an environment of expected volatility and uncertainty.
Далее
This Bloomberg Markets video, published May 11, 2026, features Grace Peters discussing WTI, Equities, PAVE, GLD. 4 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Grace Peters · Tickers: WTI, Equities, PAVE, GLD