Marko Kolanovic Reiterates Bearish Outlook

As noted, Morgan Stanley's Mike Wilson is still bearish. So is JPMorgan's Marko Kolanovic. "The equity rally over the past two months implies macroeconomic scenarios that are even more positive than a soft landing," analysts led by Marko wrote on Monday afternoon, ahead of a monumental week for macro data, policy decisions and earnings. Although that contention is difficult to prove, it's also hard to disprove. Certainly, you can argue that stocks and equity positioning have overshot key cycli