Investors, get ready to shift back to growth stocks as economic conditions shift and yields peak, JPMorgan says

• JPMorgan says investors should prepare to dump value stocks as bond yields peak in this year. 
• The bank said the dynamic that boosted value stocks last year may be upended by the second half of 2023. 
• Strategists downgraded value versus growth stocks, but say value is still more attractive long term. 

JPMorgan says traders should prepare to shift back to growth stocks following a year in which their value stock peers drastically outperformed by the most since the dot-com bubble.

"Our core view is that in the second half [of 2023, the] market will be moving back to the recession trade, but even if the opposite scenario gains traction, value might not be the best place to be," Mislav Matejka, the bank's head of global and European equity strategy, wrote in a Monday note.