America First Won’t Last Much Longer in Stocks, JPMorgan Warns
- Strategists led by Kolanovic favor stocks in emerging markets
- It’s a departure from fund manager consensus in BofA survey
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For the last few months in stocks, the world’s loss has often seemed like America’s gain. The S&P 500 is up almost 9 percent while everything else is down more than 6 percent, taken as a whole. It won’t last.
This is the latest warning from JPMorgan Chase & Co. strategists led by Marko Kolanovic, who say to cut holdings in U.S. equities and add money in emerging markets. As the benefits from President Donald Trump’s tax cuts dissipate, the world’s largest economy is set to lose its edge in growth, they said.