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Bloomberg/Sarah Ponczek/7-7-2020
“Now that clients are starting to say to me, ‘Well this thing has more room to run,’ I’m starting to get a little bit uncomfortable,” [JPMorgan’s global market strategist David] Lebovitz said. “Because at the end of the day, you have sentiment flying at the center of this and human behavior is the one thing nobody’s good at predicting, regardless of how much data you have. He added: ‘We’ve never had a downturn like this, and we’ve never had a policy response like this. So trying to say, ‘This is what happened last time,’ and apply it to the future feels a little bit challenging.’”
USAGOLD note: The markets are navigating uncharted waters at best dangerous and unpredictable. Some see it; some do not.