(Reuters) – Marko Kolanovic, a top quant strategist at JPMorgan Chase & Co <JPM.N>, accused his colleagues of allowing political bias to influence their market research, Bloomberg News reported on Tuesday, citing a transcript.
Kolanovic in an internal chat with more than 250 sales, trading and research workers, remarked about the bank’s market forecasts being influenced by personal opinions of analysts, according to the report. (https://bloom.bg/3mMrjN6)
In the chat, Kolanovic suggested an election win by Democratic presidential candidate Joe Biden would hurt the economy, in contrast to what other analysts were describing in their reports, Bloomberg News said.
Kolanovic’s message came in response to a post by commodities analysts, but was broader in its criticism, according to the report.
JPMorgan declined to comment on the report, while Kolanovic, the global head of macro quantitative and derivatives research at the bank, did not immediately respond to a request for comment.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)
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