A Contrarian Bearish Indicator

Looking for a contrarian bearish indicator? Stocks would probably work. US equities are up 20% in 2023 solely on multiple expansion. In the middle of an earnings recession. On the eve of an economic recession. And with the Fed still hiking rates and core inflation still double target. But that's too easy, and it's anyway been a disastrous line of reasoning. Instead, you might look to record bill selling by one bank's private clients. As the figure shows, BofA's Global Wealth and Investment