BofA’s Hartnett Sees Goldilocks Economy Morphing Into Stagflation
The macro narrative’s taking an unfavorable turn. So said BofA’s Michael Hartnett in the latest
The macro narrative’s taking an unfavorable turn. So said BofA’s Michael Hartnett in the latest
The animal spirits are stirring. That’s according to BofA’s Michael Hartnett who, in the latest
Market participants witnessed enough remarkable developments over the past fours years to burn retinas. November
The absence of an escalatory crude rally in the presence of the Israel-Hamas war is
Stocks may be the best inflation hedge on the board, but measured in real terms,
“Cautious.” That’s how one popular strategist is feeling right now, as traders turn the page
“The pain trade is still up.”
You’ll either listen to Michael Hartnett, or you’ll end up like Seth.
Oh, good.Â
The new edition of BofAML’s Global Fund Manager survey is out, which means we get a fresh look at what folks told Michael Hartnett about the “most crowded trades”.
Carrying-on about the many perils of equity market concentration runs the risk of eliciting exhausted
A suddenly mercurial equity market is “humbling” Wall Street and “confounding” professional investors. That’s what
“There’s more to it. It’s not that simple.” I say that to myself, despairingly, all
For the world’s largest economy, a “no landing” is far more likely at this point
When you think about the likely evolution of Fed policy for the remainder of 2024,
They’re loving commodities these days. The bonds, not so much. “They” are fund managers. Specifically
Don’t look now, but fund manager cash levels are on the brink of triggering a
Fund managers were the most bullish in more than two years early this month. Just
Markets were jittery on the heels of a weekend defined by terrifying headlines out of
The sarcastic derision in macro-market circles is pretty heavy these days. I’d be inclined to
2024’s on track to be a banner year for money market fund inflows. But you
Gold’s an inverse real yields play. Everyone knows that. It’s axiomatic. If you’re not enamored
When will money market funds start to drain? I’m a little weary of that question
If you’re looking for (or need) a short-notice bear narrative for a market high on
I’m a bit allergic to quasi-nefarious Fed-Treasury “partnership” narratives. There’s something profoundly silly about stating
On the heels of a blockbuster inflow the prior week, US equity-focused ETFs and mutual
Global equities were on track for their best week of 2024 and it was no
One of 2024’s defining characteristics so far is a discernible similarity between the market environment
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