JPMorgan says the market rout is probably past its worst now

Strategists at JPMorgan Chase have concluded that most risk assets — a universe that typically includes stocks and credit — have seen their low points for the recession that’s gripped economies around the world.

Conditions that JPMorgan had set for market stabilisation and revival have largely been met, with recession-like pricing, a reversal in investor positioning and extraordinary fiscal stimulus, strategists led by John Normand wrote in a note on Friday. Coronavirus infection rates remain a “wild card,” as they remain high even if they’re “slowing” in the US and Europe. 

“Risky markets should remain volatile as long as infection rates create