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Alternative Market Briefing

JP Morgan Asset Management releases quarterly market outlook

Friday, January 04, 2013

Bailey McCann, Opalesque New York: Dr. David P. Kelly of JP Morgan Asset Management has released his quarterly market outlook, the first of 2013. The deck, which is chart heavy doesn't offer much in the way of big surprises, but there are some key highlights. Financials and Consumer Discretionary were the two sectors leading returns for 2012, Energy and Utilities were laggards overall. Kelly's look at the S&P 500 over time also shows that the index may be reaching a critical point - the end of the year showed it at what looks like another peak (see slide 6).

Corporate cash as a percentage of current assets continues to climb - a trend that is likely to continue as manufactured uncertainty continues to plague markets. Individual investors seem to be spooked too, according to new data from Bespoke Investment Group. In a post earlier today, the firm showed that the fiscal cliff debate has had a negative impact on investor sentiment among individual investors.

According to a sentiment report from the American Association of Individual Investors (AAII), individual investor sentiment declined from 44.4% to 38.7% after five weeks of increases. The report shows that right before the deal, many investors took money off......................

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