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LinkedIn/David Kelly/6-29-2020
“First, in the short run, some caution is warranted. While U.S. equities still look attractive relative to Treasuries for the long run, there is a significant risk of disappointment in either the medical data or the economic numbers. This suggests the need to hedge equity exposure using either high-quality, long-duration bonds or, better still, more explicit hedging techniques.”
USAGOLD note: David Kelly, the chief global strategist for J.P. Morgan, does not elaborate in this article on what those “more explicit hedging techniques” might be. On the other hand, J.P. Morgan has been a very vocal supporter of gold ownership over the past few years saying just recently that the yellow metal is due for more gains in the second half of 2020.