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Investors should sit on the fence amid trade war uncertainty, asset manager warns

Investors should sit on the fence and build balanced portfolios while the outcome of the U.S. China trade war remains in the balance, JP Morgan Asset Management has warned.

Wall Street closed at record highs on Wednesday ahead of the Fourth of July holiday following a trade war truce between the U.S. and China at the weekend.

Growing expectations that the Federal Reserve will cut interest rates this year also helped all three major benchmarks to set record closes.

But JP Morgan has told clients to build up a balanced portfolio as the outcome of the trade dispute between the world’s two largest economies remains up in the air.

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