What JPMorgan And Nomura’s Charlie McElligott Are Saying About Stocks As August Kicks Off

If you harbor some "misgivings" about US equities, which have run more than 45% from the March panic lows, JPMorgan will forgive you. After all, the bank admits, the macro backdrop "is becoming muddied", with some US lawmakers again proving they are utterly incapable of legislating and, more broadly, completely unwilling to conceptualize of themselves as employees of US taxpayers, to whom they are ultimately accountable. And yet, a compromise is seen as likely on the next virus relief package,