JPM's Normand Sees No Meaningful U.S. Downturn Risk in Next Year

The transcript discusses the oddness in the market, highlighting the resilience of the US economy amidst global stress. It explores the potential for economic convergence and the likelihood of a US recession. The discussion also covers the Federal Reserve's interest rate hikes and their impact on financial conditions. Investment opportunities are identified, particularly in equities and currencies, with a focus on US equities and Asian currencies.

What is considered the biggest oddness in the current market according to the discussion?

• The fall of global commodity prices

• The rise of European currencies

• The resilience of the US economy

• The decline of Asian markets

What is the general outlook on the possibility of a US recession in the near future?

• A recession is already happening

• A recession is expected within the next six months

• A recession is unlikely in the next year

• A recession is imminent within the next year

What is the expected action of the Federal Reserve regarding interest rate hikes?

• The Fed will likely pause all hikes

• The Fed will likely continue with several hikes

• The Fed will reduce interest rates

• The Fed will increase rates only once

Where does the cyclical investment opportunity lie according to the discussion?

• In commodities

• In real estate

• In bonds

• In equities

What is the recommended approach for investing in equities in the current market?

• Invest only in European equities

• Avoid equities entirely

• Focus on tech and avoid sectors exposed to China

• Invest aggressively in all sectors