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Spice Up Your Life with Homemade Pumpkin Spice: No Bake Pie | SaltWire #shortsvideo #cookingshortsLONDON - Strategists at JPMorgan have advised opening a 'short' position in European banks, and moved the sector from 'neutral' to 'underweight', they said in a note published on Monday.
"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. European banking shares have been some of the best performing in Europe in 2023, with the STOXX Europe 600 Banks Index rising almost 8% year-to-date versus a 1% for the broader STOXX 600.
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". The STOXX Europe 600 Healthcare Index is down around 0.4% year-to-date having touched its lowest level in seven months on Friday.
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