Hartnett: “Not Once Since 1787…”

With inventory markets in a little bit of a “no man’s land” territory after a soggy August which noticed the S&P undergo its greatest month-to-month drop since February (sure, imagine it or not, the modest 1.8% drop in August was a tough cease to the 5 consecutive prior months of beneficial properties), the most recent be aware from BofA CIO Michael Hartnett shouldn’t be solely considerably shorter than ordinary (everybody has to take a break generally) but additionally focuses extra on the charges market which was rather more thrilling in August than shares.

As Hartnett factors out within the “Biggest Picture” phase of his newest weekly Flow Show (obtainable to professional subscribers), the 10-Year US Treasury is heading in the right direction for a third consecutive loss (after -3.9% in ’21, -17.0% in ’22 and -0.3% in ‘23), one thing which has not occurred as soon as within the 250-year historical past of US republic since 1787.


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