JPM: Chances Of A Sell-Off Are Growing As Hedge Fund Exposure To Equities Nears Records

JP Morgan’s US Equity Strategy Team has declined to come up with anything as eye-catching as Bank of America’s “Icarus trade”, it but the team still believes that the short term downside risk for a sell-off is increasing despite an improving fundamental backdrop.   The bank’s analysts are sticking to their price target of 2,400 for 2017 even though recent gains have taken the index up to and slightly above this level. It seems the equity strategy team is expecting more volatility going forward and just like Bank of Ame; it seems JP Morgan believes the bulk of this volatility…