1262 days ago • Posted by Charles-Henry Monchau
JP Morgan strategist Kolanovic sees Markets "Nirvana" with the S&P 500 at 4,500 by the end of 2021
Kolanovic 7 reasons to be bullish: "1) The equity market is facing one of the best backdrops for sustained gains in years; 2) Biden victory with a likely legislative gridlock as a goldilocks outcome for equities, a “market nirvana” scenario; 3) Global central bank policy remains very supportive (rates to remain at zero with ongoing QE); 4) The prospect for another round of fiscal stimulus has improved as well, though scope and size should be narrower; 5) Corporate earnings (i.e. 3Q) and labor market recovery (i.e. October jobs) continue to come in ahead of expectations; 6) Equity positioning remains at below-average levels with ample room for mechanical re-leveraging as volatility levels subside; 7) We see the S&P 500 reaching 4,000 by early next year, with a good potential for the market to move even higher (~4,500) by the end of next year." - source: JPM, The Market Ear
