See short-term technical correction in mkts: JPMorgan AM
May 7th, 2009
Geoff Lewis, Head-Investment Services, JPMorgan Asset Management, said there could be a technical correction in the short-term. He feels the current rally is a ‘post-recessionary’ rebound. “The markets are currently in a consolidation phase.” Institutional investors, he added, are still underweight on equities.
According to him, we are in a deep, brutal recession. However, he sees a pick up in GDP by next year. Lewis believes structural problems may not allow return to ‘Goldilocks’ era soon.