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JPMorgan is cautioning investors against rushing to buy equities because the market remains susceptible to negative developments in the coronavirus crisis. “I’m not yet confident in advocating overweight risk assets positions because you’re vulnerable in that scenario to a deterioration of the news on the medical front,” said Hugh Gimber, a global market strategist at JPMorgan Asset Management, in a phone interview. “The policy measures have helped but they’re not on their own enough for us to call a definitive bottom in this market.” The full extent of damage to corporate profits remains unknown, making it dangerous to turn risk-on, Gimber said.
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