The American economy loses its luster as JPMorgan Chase sees signs of recovery in emerging markets

JPMorgan Chase stated that as the exceptional performance advantage of the U.S. economy gradually fades and the dollar weakens, global funds are showing signs of flowing into emerging market stocks and bonds. The amount handled by this Wall Street firm in recent weeks for converting currencies into Hong Kong dollars and renminbi has reached record levels, indicating a capital inflow into the local stock market, said Serene Chen, head of credit, foreign exchange, and emerging markets sales at JPMorgan Chase. This is because traders are betting that the Federal Reserve will further cut interest rates due to the aggressive policy agenda of the Trump administration, while the dollar is declining amid concerns about the health of the U.S. economy. (Bloomberg)