JP Morgan AM: Banks are in a better place than 2008

JP Morgan AM: Banks are in a better place than 2008

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Developed market central banks tightened policy rapidly in 2022. The impact of this tightening is now being felt in the rate sensitive parts of the economy.

As we discuss in our latest On the Minds of Investors article The impact of higher interest rates on housing and consumers, housing markets look vulnerable after a decade of house price inflation. Fortunately, the banking system is now well capitalised. Combined with a focus on higher quality mortgage lending over the last ten years this makes us more confident that while housing markets could see declines, this is unlikely to drive developed economies into a financial crisis.

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