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New York: Wednesday, October 21, 2020
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Look past U.S. election 'noise', focus on medium term

STOCK MARKET NEWS:
Look previous U.S. election ‘sound’, concentrate on medium term

SINGAPORE — With unpredictability towering above the approaching U.S. elections in November, JPMorgan Property Management’s Patrik Schowitz states financiers need to look past the “noise” and concentrate on the medium term rather.

“On a six month view, you know, we think the cyclical view matters much, much more than … the exact noise and shenanigans around the U.S. election,” Schowitz, international multi-asset strategist at the company, informed CNBC’s “Street Signs Asia” on Wednesday.

“Anything longer than say two or three months, you should be positioned risk-on, you should be overweight risky assets like credit, like equities,” he stated.

Still, Schowitz acknowledged that there are “a lot of risks” ahead over the next month or more, with the company remaining more well balanced at present. 

“We’ve reduced risk, reduced the size of positioning across our portfolio somewhat but we haven’t really changed the direction,” the strategist stated.

“The direction for us is still dominated by the fact that we are through the recession, we are into the next economic cycle — the general direction for markets and economies should be upwards,” he included. “Where a lot of this noise comes in is that it is hard to take a very clear bet in terms of cyclical, defensive, value, growth.”

On Tuesday, U.S. President Donald Trump aborted stimulus talks with Democrats till after the Nov. 3 election. 

Talking about the capacity for more U.S. stimulus, Schowitz stated: “It’ll be better to get to stimulus now, but as long as we get it early next year we think the economy will be able to get through that,” including that families that have actually developed a “massive amount of savings.”

“It looks like both sides, whether it’s Biden or it’s Trump are basically intending to give us another round of stimulus,” he stated. “Everyone sort of wants to be getting another round through, they just want their own name to be on it.”

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Hmm. yes i understand the
question, you know it's been at least
15 years since I've been following the news, no 10 my folks do that, hmm. what was the question again !?
Excuse me! But can you remember
where you read about this ?
Are you kidding !?
of course I can, it was on
the website u.s.news.com
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