JPMorgan Predicted a Short-Covering Surge, and It Has Arrived

(Bloomberg) -- The S&P 500’s 7.5% advance on Tuesday has hallmarks of a scramble to close bets against hated parts of the equity market as Congress hones a plan to shield the economy from the coronavirus.It conforms with predictions in a note earlier today by Nikolaos Panigirtzoglou, JPMorgan Chase’ global market strategist. “We expect equity markets to see considerable short covering from here if the impact from the virus turns out to be less long-lasting or that measures