Kolanovic, JPMorgan Raise S&P Target, Say Fears ‘Overblown’

An aggressive bond rally and the fading of 2021's outperformance across various manifestations of the recovery trade in equities culminated early this week in a fairly dramatic selloff on Wall Street. The generic narrative is that a growth scare is afoot, brought on by Delta variant concerns, Fed tightening worries, a fiscal stalemate inside the Beltway and ongoing Sino-US tensions. This narrative is beginning to find expression in questions about where we actually are in the cycle. Morgan Sta

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