JPMorgan Chief Strategist Says Markets May Be at Long-Term Turning Point
- Switch to value more profound than appreciated, Kolanovic says
- Europe, Japan, emerging markets may outperform in second half
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Global markets may have reached an inflection point with value shares set to outperform growth ones for a significant period, according to JPMorgan Chase & Co. chief global markets strategist Marko Kolanovic.
The rebound in value driven by the recovery from the pandemic, falling volatility and fiscal and monetary policy support is set to last for some time as the various factors work their way through the system, Kolanovic said in an interview. These could trigger a long-term investment shift toward being more cyclical and reflationary, he said.