JPMorgan’s Marko Kolanovic Says US Will Avoid Recession
- Bullish strategist says a surge in yields has gone ‘too far’
- Kolanovic’s buy-the-dip calls have not worked out in 2022
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A surge in bond yields that has rattled global stock and currency markets has gone “too far,” leaving the door open for the Federal Reserve to stun investors with less hawkish policy and help engineer a soft landing for the economy, according to JPMorgan Chase & Co. strategist Marko Kolanovic.
“Friday’s strong CPI print that led to a surge in yields, along with the sell-off in crypto over the weekend, are weighing on investor sentiment and driving the market lower,” Kolanovic and his team wrote in a note to clients on Monday. “However, we believe rates market repricing went too far and the Fed will surprise dovishly relative to what is now priced into the curve.”