JPMorgan’s Marko Kolanovic spoke with CNBC on Thursday, is looking for the further fall due to high interest rates setting up a shunt lower.
- Says cash at a 5.5% return in money market and short-term Treasurys is a key protection strategy at present
- “I’m not sure how we’re going to avoid (recession) if we stay at this level of interest rates,”
- Says a short term bounce is possible
- ″[We’re] not necessarily calling for an immediate sharp pullback. Could there be another five, six, seven percent upside in equities? Of course... But there’s a downside. It could be 20% downside.”
Kolanovic had been calling the market lower but had relented. Looks like he is back on the bear side again though.
