Investors should put more money in gold and cash as rally in stocks won't last, top JPMorgan analyst says

A top JPMorgan Chase & Co. analyst who has been warning clients to stay away from stocks all year is doubling down and advising them to increase their allocations to cash and gold.

JPMorgan Chief Global Markets Strategist Marko Kolanovic advised clients to modestly reduce their exposure to U.S. stocks and corporate debt and up their holdings of cash and short-dated Treasury bills that carry yields north of 5%. “Within commodities, we rotate from energy , to gold following its recent selloff ,” the analysts said.

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