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Financial Market Outlook (2013) ASU&JPMorgan

Financial Market Outlook (2013) ASU&JPMorgan

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Published by: blacksmithMG on Dec 16, 2012
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05/08/2013

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ASU Financial Market Outlook (2013)
Investment products: Not FDIC insured • No bank guarantee • May lose value
Please see important information at the end of this presentation.
Anthony Chan, Ph.DManaging Director & Chief EconomistChase Private Client
 
1
US Corporations Remain Flush With Cash
Global merger and acquisition activity remains at low levelsrelative tothe size of corporation’s cash balances
M&A Volume in trillions of USD
Source: S&P, Federal Reserve, Bloomberg, FactSet, J.P. Morgan Securities LLCSource: Federal Reserve
0.00.20.40.60.81.01.21.41.6200720082009201020112012
Past performance is not indicative of future returns.
It is not possible to invest directly in an index. Pleasesee appendix for index definitions.
Corporations have high cash balances in order to deal withuncertainty
Cash and Equivalents/Tangible Assets
3%4%5%6%7%8%9%10%11%12%197019731977198019841987199119951998200220052009
 
2
Share of Corporate Profits Remain Near-Record Highs
024681012'60'65'70'75'80'85'90'95'00'05'10
Adjusted After-Tax Corporate Profits (% of GDP)
Includes inventory and capital consumption adjustments
50-yr. avg. : 6.2%
Source: The Bureau of Economic Analysis, HaverAnalytics

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