How does one bank cover all bases and no matter the outcome, is able to tell clients that it warned them all about it? Well, if you are JPMorgan - and sport no less than 3-client facing divisions - you tell them to be bearish, bullish and neutral all at the same time.
In a note from JPM's market intel team, the group leader Andrew Tyler summarizes three distinct investment positions currently espoused by three core groups inside JPMorgan: i) sellside research, ii) the Data Assets and Alpha group, and iii) the Market Intel group.
I. Starting with JPM's Research group, which is the team led by Marko Kolanovic who was bullish throughout 2022's collapse and turned bearish right at the bottom as we correctly noted at the time...
