Hedge Fund Beta Stays Flat Amid Debt Ceiling Complancey

Recognizing the likelihood of near term volatility due to the debt imbroglio, JPMorgan Chase & Co (NYSE:JPM) analysts Thomas J Lee, Joseph Abboud and Katherine C Khor nevertheless remain cautiously bullish and project the S&P 500 (INDEXSP:.INX) to scale 1,775 by the end of the year. U.S. default – probably unlikely… An interesting viewpoint: Stripped to the essentials the political logjam in Washington is really just a binary event (and risk) – will the U.S. default or not? “In our view, the probability of this is not sufficient to warrant a change to our thesis,” say the analysts. Hedge funds and…