Homepage / Investment / Market top coming because Fed's easy money 'no longer politically acceptable,' Bank of America says
Bewertungen zu Vulkanvegas Lesen Sie Kundenbewertungen zu vulkanvegas com 3 von 5 小柳商事株式会 Mostbet Türkiye mobil uygulamasını indi What to anticipate in VDR Providers Best Country To get yourself a Wife: Asia, Europe & Latin America Technology and Asylum Procedures Business Process and Digitalization How to begin Your Blog With no Investment Software For Modern Business Setting Up the Electronic Data Areas Legal Support and Advice Intended for Small Businesses The very best Virtual VDR Providers 9 Tips for Working With Teams in Different Timezones Korean Brides -mail Order Brides From Southern Korea Choosing a Data Place Antivirus Solutions — What to Look For within a Good Anti-virus Solution Best Alternatives of VPN Software New Step by Step Roadmap for Marijuana News Relationship With A Russian Mail Order Bride: Can It Develop Suitable Family? Steve Munger: These Primary Guidelines Made Me Effective In Life With Warren Buffett, Thought about All Three Guide To Choosing The Right Mailbox Order Star of the event Web Site In 2023 Few Wins $3 Million In Pennsylvania Lotto Scratcher, Strategies Trip Privately owned Internet Access Avast Review Powerful Deal Achievement Top Rated Free VPN Services Adaware Review – Is Adaware Review Right For You? Large 15 Best Countries To find a Spouse In 2023 Online dating services Reviews Ideal Legit Snail mail Order Bride-to-be Sites To Decide On In 2023 & Feedback Thailänder Brides Pleasant Thai Mailbox Order Wedding brides To Marry Thailänder Brides Get A Thailand Deliver Order Bride The principal Expenses Ukrainian Mail Order Spouse Cost Includes The Nations Just where Girls Have One Of The Best Lives, In Chart Romancescout: Your Information To On-line Relationship Evaluations, Recommendations Tes Ship Order Bride-to-be Discover A Overseas Spouse Across the internet Free With Jetbride Com Powerful Interracial Marriages Exquisite Interracial Lovers Exactly what the Best Online dating Websites? Very best Dating Web page Reviews – Find Your web Soul Mate Ways to Create Online dating sites Profiles Long Relationship Suggestions Long Relationship Suggestions How to begin a Successful Wife Search Getting married to a Russian Child The right way to Meet Delightful Ladies Around the World To recognize Know About Ukrainian Single Girls Dating The Different Types of Sugar Daddies The key benefits of Dating a Latina Top 5 International Dating Sites Russian Women Seeking Men Overseas Cookware Interracial Lovers and the Backlash Against All of them Getting the Marriage License and Wedding ceremony Done Correct How to pick the Best Web based Marriage Company Flirting Tips For Timid People Delightful Interracial Lovers Crucial Russian Females Dating Suggestions for Men Steps to create the Most of Dating An individual From Another Country Web based Top five Romantic Honeymoon Destinations Just what Soulmate? Web based Relationships Suggestions The Challenges of Dating An individual From A further Country Setting Expectations just for Online Sugar Daddy Arrangements Marital relationship License and Ceremony Why Are Latinas Heated? Getting Foreign Bride-to-be Tips on how to Propose — What’s the Best Way to Say “I Do”? Is usually Your Long Distance Marriage Moving Too quickly? Dating Etiquette — The Modern Rules of Seeing A Quick Guide to the Use of NLP in Chatbots Building Trust in Human relationships Les mariages interracials les plus réussis sont ceux basés sur l’amour & le respect Browsing through Cultural Differences in Asian Human relationships How you can Have a cheerful Marriage The right way to Fix a Relationship With out Hurting Your companion How to Spice Up a lengthy Distance Relationship The main advantages of Online Dating What is the Best Female Race to Marry? Western european Women Stereotypes Why Asian Girls Like Bright white Guys How to Succeed in On the web Relationships Top 5 Online Connections Tips Top 5 Online Connections Tips Leading Countries With Best Foreign Brides Powerful Interracial Relationships Asian Wedding Icon Meanings Where to Find a Deliver Order Star of the wedding Wedding ceremony Traditions in Ukraine For what reason Asian Girls Like Light Guys Asian Brides Via the internet Tips on how to Propose – What’s the simplest way to Say “I Do”? 5 Latina Wedding party Traditions Will possibly not Have Dreamed about When should you Stop Online dating Other People in Online Dating Latina Relationship Interaction Styles How to Find a Bride On line Good Interracial Relationships Oriental Wedding Practices Top five Online Relationships Tips The right way to Meet Overseas Woman and Create a Longer Distance Romantic relationship Where to Meet Latina Mail Buy Brides Where to get a Hot Asian Star of the event

Investment

Market top coming because Fed's easy money 'no longer politically acceptable,' Bank of America says

Central bank easing may no longer be politically acceptable.

That’s what Bank of America Merrill Lynch’s widely followed chief investment strategist, Michael Hartnett, says in a note.

“Central banks have exacerbated inequality via Wall St. inflation & Main St. deflation; [it’s] no longer politically acceptable to stoke [the] Wall St. bubble,” the strategist wrote last week.

There are “two ways to cure inequality,” make the poor richer or the rich poorer, Hartnett added. The Federal Reserve and the European Central Bank are “now tightening to make Wall St. poorer,” likely setting up for a “big top” in stock markets this fall.

US labor participation rate vs. US stocks and bonds

Source: Bank of America Merrill Lynch Global Investment Strategy

Last week, European and U.S. government bond yields climbed to multiweek highs after key policymakers at the European Central Bank, Bank of England and Federal Reserve separately suggested that tighter monetary policy is on the way.

However, all three acknowledged inflation remains subdued.

Normal business growth can no longer create inflation because of the disruptive force of technology, record high global debt, and an aging population, Hartnett said. Instead, he said, inflation will require “radical fiscal stimulus, trade war, major increase in geopolitical risk” and policies to “Occupy Silicon Valley” by redistributing its wealth, reiterating a point he made in May.

In Hartnett’s view, the lack of inflation means central banks are making a “mistake” by tightening, but they will still do so because they “want volatility to return.”

This summer will then likely mark a “significant inflection point” in the central bank liquidity trade that will likely set up for a “big top” in the autumn, Hartnett said. He recommends buying 2-year Treasurys and resources stocks, and shorting emerging market debt and technology stocks, among several other trades in preparation for a “bout of higher yields.”

While yields climbed last week and bank stocks rose, the tech-heavy Nasdaq composite fell 1.99 percent in its worst week of the year, going back to Dec. 2. The S&P 500 fell 0.61 percent last week, its worst since April 13.

Still, “‘greed’ takes longer to kill than ‘fear,'” the market strategist said. He pointed out that in the 12 months leading up to the tech bubble’s peak, the Nasdaq fell more than 10 percent on six separate occasions.

Hartnett expects the Nasdaq composite could climb above 6,666 before the end of the bull market — which he pointed out began after the S&P 500 hit a low of 666 — 666.79 per FactSet, to be precise.

Source: Investment Cnbc
Market top coming because Fed's easy money 'no longer politically acceptable,' Bank of America says

Comments are closed.