JPMorgan strategists advise opening a short in European banks, upgrade healthcare
© Reuters. FILE PHOTO: The financial district with Germany's Deutsche Bank and Commerzbank is pictured in Frankfurt, Germany, March 18, 2019. REUTERS/Ralph Orlowski/File Photo
"If the bond yields are in the process of peaking this quarter, as we suspect ... then Banks could start to struggle," JPM strategists, led by Mislav Matejka, said. JPM"used the funds" to upgrade the healthcare sector from 'neutral' to 'overweight', saying the sector could benefit from"higher U.S. dollar exposure, low beta and the long duration angle".
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