Economic TimesLean R·
JP Morgan traders back down bullishness on US stocks after Fed chair Warsh's Jackson Hole speech
JPMorgan Chase & Co.’s trading desk has shifted to a “tactically cautious” stance on US stocks for the next few weeks, following hawkish comments from Federal Reserve Chairman Kevin Warsh that strengthened expectations for interest-rate hikes this year, according to a Bloomberg report.Traders led by Andrew Tyler, head of US market intelligence, moved away from their bullish view ahead of the Fed’s Sept. 16 policy decision, citing uncertainty over the interest-rate outlook.Despite near-term …
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