JPMorgan's Kolanovic warns of high risk for Minsky moment in markets.

JPMorgan's Marko Kolanovic warns of increasing chances of a "Minsky moment" due to bank failures, market turmoil, and ongoing economic uncertainty as central banks battle high inflation. The term refers to the end of an economic boom that has encouraged investors to take on so much risk that lending exceeds what borrowers can repay, leading to a market meltdown. Kolanovic recommends being cautious on risk assets, going underweight value, and being defensive in portfolio allocation. He expects the Fed to opt for a quarter-point rate hike on Wednesday and predicts that the first quarter will end up being the high point for stocks this year.