JPMorgan Top 2020 Trades Say Short Gold, Buy Raft of Stocks
- U.S. presidential election seen as biggest risk next year
- The firm went into 2019 recommending equities versus bonds
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JPMorgan Chase & Co. is recommending a risk-on investment allocation for 2020 as the global economy gathers momentum in the wake of the slowdown of recent months.
Stocks are a common theme across the Wall Street giant’s top trades, including bets on Japanese banks, German equities and emerging markets, a note by strategists including Nikolaos Panigirtzoglou, Marko Kolanovic and John Normand showed Wednesday. The firm maintains an underweight position in bonds, particularly in high-grade corporate credit, and advised betting on gold to slide.