Kolanovic Warns Stocks Now Price No Chance Of Recession

Equities and credit are pricing no risk of recession. And that could be problematic. So suggested JPMorgan analysts led by Marko Kolanovic, who this week conceded that the defensive stance in the bank's asset allocation model portfolio "has not played out," leading to underperformance amid stubborn stock strength, soft landing euphoria and rate cut bets. It's not that JPMorgan thinks a soft landing is out of the question. Nor does the bank view "deep" rate cuts as impossible. Rather, it's more