JPMorgan's Chief Strategist Kolanovic sees the reopening trade restarting in a big way

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Marko Kolanovic

Crystal Mercedes | CNBC

One of Wall Street’s top strategists who’s nailed the markets’ moves during the pandemic said the reopening trade is not over and is instead about to kick into gear once again.

Marko Kolanovic, JPMorgan’s chief global markets strategist, said in a note on Tuesday that the recent pullback in areas like cyclical stocks (names linked to overall economic growth) and Treasury yields will soon prove to be temporary. Reopening trades and interest rates rose steadily from late last year into March as investors bet on the U.S. economic recovery, but those trades have cooled off in recent weeks