“JPMorgan’s Kolanovic Sees Stock Selloff as US Debt Talks Drag On”
May 16, 2023
“…The strategist reiterated a call to remain underweight both US and European stocks as X-date approaches, with a potential political standoff on a resolution exacerbating the already present threat of a recession — particularly if 2011’s debt event is any guide.
“While we acknowledge that at the time the severe selloff in risk assets due to the August 2011 US debt ceiling issue was amplified by the Euro debt crisis, it would be difficult to avoid at least a modest selloff in risk assets if the debt ceiling issue goes down to the wire as in August 2011,” Kolanovic said in a note to clients Monday…”
https://finance.yahoo.com/news/jpmorgan-kolanovic-sees-stock-selloff-194459438.html