JPMorgan Says CTAs, Macro Hedge Funds Can Push Stocks Higher

Fully three quarters of Japanese government bonds are trading at negative rates, and this has led investors to flock to foreign stocks, including those in the US, a JPMorgan Asset Allocation report noted. Does the US stock market have room to climb higher? Yes, the analysts said, citing additional capacity in managed futures CTA and Macro hedge fund portfolios. JPMorgan: CTA and Macro strategies have room in their portfolios to accommodate more stock exposure Leading into the Brexit from June 16 to 23, the algorithmic formulas driving CTA strategies were generally short equities, a JPMorgan report noted. After the Brexit…