Favorable economic data this week bolstered market confidence, leading to a strong rally in equities, JPMorgan explained in a report published on Friday. With the Federal Reserve now likely to cut interest rates in September, the global investment bank advises investors to prepare by adjusting their portfolios accordingly. The futures market predicts a 100% chance of a 25-basis-point cut, with a 25% chance of a 50-basis-point reduction. JPMorgan suggests a two-pronged strategy: defensively, by extending duration through bond investments to lock in higher yields before rates fall, and offensively, by targeting rate-sensitive sectors like refinancing, commercial real estate, and M&A, which may recover as rates decrease. Bonds are highlighted for their potential to preserve capital and enhance income in a rate-cutting environment. JPMorgan stresses the importance of being proactive as the rate-cutting cycle approaches, offering guidance on balancing both offensive and defensive investment strategies.

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