Earlier this month, JPMorgan’s Nikolaos Panigirtzoglou flagged the potential for some $200 billion in rebalancing flows to derail equities inContinue Reading
JPMorgan’s Marko Kolanovic predicted Donald Trump’s election victory in 2016. In a note dated Monday, he says the odds areContinue Reading
For a decade (at least) investors have been afforded the opportunity to “have their cake and eat it too”, asContinue Reading
“Many investors did not participate in the equity rally”.
Positioning and low risk of new lockdowns justify a reasonably constructive take.
“Ultimately we think that politicizations of COVID-19 will backfire”…
“While the epidemic and markets largely followed our forecasts, politics emerged as a new and significant risk”.
“So, you’re a rocket scientist.” ” I was, yeah.”
“What is the right multiple given the unprecedented earnings hit, but also unprecedented monetary measures?
The “next shoe to drop”? Maybe not. And here’s why.
“The analogy is with an iceberg.”
Remember: The stimulus isn’t going away even if the virus does.
“…in the age of big data, machine learning and internet of things, this could be different.”
“…the response evolves initially from under-reaction, then overreaction and then converges closer to an optimal response.”