A bit of a rehash from a JP Morgna note on Monday, reiterating bullishness, citing recent economic data, earnings reports, the prospect of a more accommodating Federal Reserve.
- upside appears to be more muted than when we adopted this stance earlier this year
- but there remains material upside
JPM note risks:
- Japan's inflation data
- geopolitical developments that can impact oil prices
- US election
- Federal Reserve commentary changes
- weak seasonality
