JPMorgan's Kolanovic Sees a ‘Trump Collar’ on U.S. Stock Market
- Strategist is generally positive on most aspects of markets
- Recommends relative-value trades with beaten-down assets
Donald Trump
Photographer: Al Drago/BloombergThis article is for subscribers only.
The stock market may be bound in a range by U.S. President Donald Trump, according to JPMorgan Chase & Co.’s Marko Kolanovic.
There’s a “Trump collar” on markets as the president reassures traders when equities are down, but does things that worry investors when they’re doing well, said JPMorgan’s global head of macro quantitative and derivatives research. Kolanovic’s positive on aspects such as the Federal Reserve’s effects, the U.S. and Chinese economies and investor positioning. His firm has a year-end forecast of 3,000 for the S&P 500, or about 6% above current levels.