It may come as a surprise to some, but just two weeks after JPMorgan said it was turning bullish on the US, officially upgrading US equities to Overweight after holding a missing the biggest equity rally in decades with a Neutral rating on US stocks, the bank appears to have had a change in heart, and overnight the bank’s chief equity strategist Mislav Matejka writes that looking ahead, much of his newly found optimism has vaporized and as a result, “risk-reward is unattractive for equities in 2H of 2020” and stocks are likely to lag bonds and cash again, as they did in 1H ‘20. Read More.