JPMorgan's Uber-Bearish Marko Kolanovic Rages At JPMorgan Uber-Bullish Trading Desk

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by Tyler Durden
Tuesday, Nov 07, 2023 - 02:20 AM

It's one thing for banks to hold opposing market views, like for example Piper Sandler's uber bear Michael Kantrowitz calling for the S&P to crash to 3,800 by year end while his uber bullish nemesis (at least after her recent flipflopping) at Bank of America, Savita Subramanian, expecting the S&P to hit 4600 on Dec 31; in fact it's perfectly normal to pit opposing views, after all that's what makes a market.

But when you get two polar opposite market opinion within the same bank, things get awkward.

That's the case at JPMorgan where a bizarre clash of opinions has pitted the bank's largely useless and irrelevant sellside strategists and the far more credible and relevant trading desk (which unlike the bank's research propaganda arm, puts its money where its mouth is). We are talking about the bizarre - and ongoing - schism between former permabull (for all of 2022) and current permabear (flipping bearish just as the market hit its 2022 lows), Marko Kolanovic, and the trading head of JPM's Market Intel desk, Andrew Tyler.