Bank of America's Hartnett stays cautious until bond yields and oil prices fall
Michael Hartnett, strategist at Bank of America, and his team are keeping a defensive stance on markets until oil falls below $70 a barrel, the 10-year Treasury yield drops below 4.5% and the dollar weakens. The bank outlines two scenarios for the S&P 500: above 8,000 points or below 7,000. Global equity funds took in $98.3 billion in the week ended November 11.
In 35 seconds
- Bank of America requires oil below $70, a 10-year Treasury yield below 4.5% and a weaker dollar before turning favorable on risk assets
- The S&P 500 could exceed 8,000 points or fall below 7,000 under the bank's two scenarios
- Strategists expect more than 70 rate hikes worldwide between June 2026 and May 2027
Read the full story at Revista ADVFN
IASummary generated by artificial intelligence from a story by Revista ADVFN. It may contain errors: the original source prevails.
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