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BofA Remains Bearish on S&P 500 Until Trade War De-fuses
Recommend 5 Positive 2 Negative 15 |
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Bank of America’s Chief Investment Strategist Michael Hartnett stated that U.S. President Donald Trump’s unpredictable tariff policies have battered global financial market sentiment, dampening the S&P 500 down over 10% year-to-date, Bloomberg reported. He believed investors should remain bearish on the S&P 500 until the Federal Reserve intervenes, U.S.-China relations improve, or the trade war subsides, recommending a re-entry point only when the index falls to 4,800. Hartnett also advised investors to buy two-year U.S. Treasury bonds, noting that rising bond yields, falling corporate stock prices, and a fading USD are driving a global asset liquidation, likely forcing policymakers worldwide to respond. AAStocks Financial News |
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