Cash Is Trash For Hyper-Bullish Fund Managers
Overall, the pile of “dry powder” parked in money market funds remains elevated, but a
Overall, the pile of “dry powder” parked in money market funds remains elevated, but a
With the exception of the post-tax cut melt-up in early 2018, “optimism,” defined as faith
For years, critics of central banks’ increasingly belabored efforts to engineer robust growth and “healthy”
Last weekend, I talked a bit more about equity supply/demand dynamics. The overarching point was
Forget the “everything rally.” That’s not nearly colorful enough as a description of 2020’s various
“The bullishness is rampant,” David Rosenberg, who’s always good for a quote or two or
Optimism around the prospects for emerging markets is building. Developing nation assets have lots of
I guess we need to add a new term to the lexicon: “Uber Goldilocks.” You
As the encouraging vaccine news piles up, one imagines the calls for a sustainable rotation
We’re close to “full bull,” BofA’s Michael Hartnett declared, in the latest edition of the
This will be a week remembered for the largest one-day momentum crash and the biggest
“We are sellers” into vaccine strength, BofA’s Michael Hartnett said, in the latest edition of
The next US president, whether Donald Trump (again) or Joe Biden, will inherit one of
It’ll be “tough” for equities to keep hitting new highs now that volatility, spreads, and
The “bottom line” among respondents to the October edition of BofA’s closely-watched Global Fund Manager
Rightly or wrongly, the market appears to be pricing out Donald Trump. The 2016 experience
The top in asset prices will come between the election and inauguration, BofA’s Michael Hartnett
Everything became an afterthought Friday. Even if Donald Trump’s COVID diagnosis proves to be a
When it comes to US equities and a prospective Joe Biden administration, the debate has
One week on from the biggest inflow into equities since March of 2018, investors fled
It’s been a wild year. How’s that for an understatement? Consider that nine months later,
The “dash from cash is accelerating”, BofA’s Michael Hartnett writes, flagging the biggest six-week cumulative
US stocks ended off their best levels on Tuesday, giving up a portion of early
“The vaccine’s the thing”, writes BofA’s Michael Hartnett, describing what respondents to the bank’s monthly
“It’s a bull market” and this is “no longer a recession”. That’s the “September zeitgeist”
“A bull correction” — according to what can loosely be described as the consensus narrative,
On the off chance you had any lingering doubts, a breakdown of equity buyers (by
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