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The ‘Marking To Misery’ Trade Has Accelerated
The "marking to misery" trade has accelerated.
Earlier this month, BofA slashed their year-end yield forecasts across the board, citing a number of factors, not least of which was the sudden escalation in the trade conflict, which, in addition to driving investors into havens, threatens to undermine global growth. "Green shoots", meet Roundup.
But it wasn't all about trade. “It would be simplistic to blame these forecast revisions purely on the latest chapter in the trade war saga”, BofA s
