President Donald Trump
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President Donald Trump’s re-election chances are rising, which could leave investors positioned for a Biden victory in the dust, according to JPMorgan’s Marko Kolanovic.
“We currently believe that momentum in favor of Trump will continue, while the most investors are still positioned for a Biden win,” he wrote in a note to clients Monday. “The impact on sectors and factors (momentum vs value, cyclicals vs tech, ESG) could be dramatic and investment portfolios should adjust for a potential Trump re-election,” he added.
Kolanovic, who is JPMorgan’s global head of macro quantitative and derivatives strategy, is known lately for his often prescient calls. He correctly predicted the market’s bottom in March, and has been bullish on stocks since.