04/10/18

JPMorgan Downgrades China Stocks, Forecasting "Full-Blown Trade War"



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JPMorgan Downgrades China Stocks, Forecasting "Full-Blown Trade War"
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Late last week, JPMorgan's strategist John Normand announced that the largest US bank "adopted a new baseline that assumes a US-China endgame involving 25% US tariffs on all Chinese goods in 2019" because "the US and China will not resolve their differences this year and that the Administration will make good on its threats to escalate." Such a full-blown trade war "could take $8 off consensus 2019 EPS ....

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