JPMorgan Chase & Co.’s trading desk has shifted to a “tactically cautious” stance on US stocks for the next few weeks, following hawkish comments from Federal Reserve Chairman Kevin Warsh that strengthened expectations for interest-rate hikes this year, according to a Bloomberg report.
Traders led by Andrew Tyler, head of US market intelligence, moved away from their bullish view ahead of the Fed’s Sept. 16 policy decision, citing uncertainty over the interest-rate outlook.
