These three stars need to align before investors rush back into stocks, Bank of America strategist says
MarketWatch · Jules Rimmer ·
Despite the steep drop in equity markets this week, investors should wait for several developments in other asset markets before rushing back into stocks, Michael Hartnett says
Despite the steep drop in equity markets this week, investors should wait for several developments in other asset markets before rushing back into stocks, Michael Hartnett says
The 3% drop in the S&P 500 and 6% tumble for tech stocks this week are not enough for one strategist, who has been in “risk-off” mode for several months, to change his mind.
Bank of America chief investment strategist Michael Hartnett has three key prerequisites for buying the market: that central banks stop tightening policy, U.S. 10-year yields decline to 4.5% BX:TMUBMUSD10Y and the price of oil falls below $80 a barrel.
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