JPMorgan chief global equity strategist Marko Kolanovic says commodities stand out as 'under-valued [and] under-owned.'
JPMorgan's chief global markets strategist Marko Kolanovic advises investors to play commodities against recession risks. "It feels like a good entry point for a catch-up in commodities vs. equities – amidst a broad-based rally in risky assets, commodities price in by far the highest risk of recession and stand out as under-valued, under-owned, and backed by compelling fundamentals and technicals," he wrote in a Monday note.
The fund offers exposure to a range of agricultural futures, including sugar, soybeans and corn. The strategist also called out oil as his third-preferred area. The U.S. Brent Oil Fund LP , which is down less than 1% in 2023, is one way for investors to participate in the space. Investors shopping for commodity-focused ETFs should be aware that funds that invest in futures tied to these assets may see a fluctuation in returns due to events like contango and backwardation.
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