J.P. Morgan Chosen for Australia's Digital Currency Project, Upgraded to Outperform Amid Global Economic Shifts

JPM (JPMorgan Chase & Co)
+0.13%+0.38
283.16USD
Total 145 words · 1 min read
  • J.P. Morgan selected for Project Acacia to explore digital currencies in Australia's $350 billion repo market: J.P. Morgan will use its Kinexys platform, which has processed over $2 trillion in transactions, to help the Reserve Bank of Australia improve efficiency, liquidity, and reduce risks in the repo market through digital currencies and tokenized assets.

  • Keefe Bruyette upgraded JPMorgan to Outperform with a new price target of $327, up from $253: The upgrade reflects optimism about the long-term structural benefits of scale for large-cap banks, highlighting positive analyst sentiment towards JPMorgan's future performance.

  • JPMorgan strategist comments on China's potential end to deflationary price wars amid 3.6% YoY producer price index decline: Wendy Liu noted that while easing trade tensions could benefit global trade long term, it may negatively impact GDP and employment in the short term, with China experiencing 33 consecutive months of factory deflation.

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