Wednesday, January 6, 2016

J.P. Morgan confirms recession signal for U.S. while also downgrading 21 emerging markets

When Wall Street and other mainstream analysts provide forecasts for the markets, one must always take them with a grain of salt since these investment banks also have skin in the game for the outcomes they prognosticate.  But at certain points in a business cycle the data becomes impossible to hide, and what is reported by these analysts can be quite accurate as to the real state of an economy.
Thus when J.P. Morgan started the year on Jan. 4 by downgrading 21 of 22 emerging markets, it appeared to be dead on as global markets fell precipitously on Monday, with some like in China declining more than 7% in a single session.


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