JPMorgan strategist calls latest rally bear market trap

Kolanovic sees the first three months of the year likely marking an “inflection point in the market,” with an air pocket during the second and third quarters. — Bloomberg

NEW YORK: JPMorgan Chase & Co strategist Marko Kolanovic has reiterated that investors should fade last week’s Federal Reserve (Fed)-induced stock market rally, arguing that the US economy’s disinflationary process could just be “transitory”.

Kolanovic saw the first three months of the year likely marking an “inflection point in the market,” with an air pocket during the second and third quarters, he wrote in a note to clients.