JP Morgan’s Marko Kolanovic cautions against buying the dip in stocks

JPMorgan’s Marko Kolanovic:

the downside surprise in the Q1 GDP data, combined with the upside surprise on inflation is a challenge to those holding a “soft landing view” in the marketsays lower growth and higher inflation is a situation that points the way to stagflation, and the market is not heeding it”While the worry for risk markets is overheating that jeopardizes rate cutting, in contrast to the overheating story, the recent GDP print heads in a stagflationary direction relative to market expectations” analysts at JPM add they are “not overly impressed” so far this earnings season (pointing out that of the S&P 500 companies having reported, 75% are beating EPS estimates, but only 59% are topping revenue estimates, slipping below the 63% average)

This article was written by Eamonn Sheridan at