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JPMorgan’s Kolanovic Says Time to Trim Stocks, Buy Commodities

  • Recommendation follows stretch of equities outperformance
  • Overall risk exposure stays the same amid economic optimism
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BlackRock Is `Even More Cautious' on Stocks Now: Brazier

Investors should modestly trim stock holdings and shift the money to commodities after equities outpaced other assets amid receding recession fears, according to JPMorgan Chase & Co. strategists led by Marko Kolanovic, one of Wall Street’s staunchest bulls.

With Friday’s report on US payrolls building on a string of stronger-than-expected economic data, the S&P 500 Index has advanced 13% from its 2022 low reached in June. By contrast, a Bloomberg index tracking commodities from oil to copper has declined over that stretch.