A note from earlier in the week via JPM on US equities, saying to stay bullish on stocks over the short to medium term.

3 reasons:

1. Positioning remains light around macro and systematic investors.

  • seasonality over summer should help the volatility spike continue to fade, which could push investors to further add to stock exposure

2. Monetary and fiscal policy is supportive .

  • liquidity has recovered meaningfully from the March lows

3. Rising coronavirus incidence is mainly impacting younger populations

  • this demographic has drastically lower mortality rates (compared with older people) and likely reflects higher testing rates, recent protests, backlogs of hospital visits, and increased economic activity

I posted earlier on other bulls: