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There Has Been Just One Buyer Of Stocks Since The Financial Crisis
There Has Been Just One Buyer Of Stocks Since The Financial Crisis Over the weekend we showed a chart which demonstrated that the bulk of the 21st century has been characterized by equity retail fund outflows offset by a tsunami of bond inflows, i.e. a reverse “great rotation.” The chart also illustrated that periods of “big bond inflows often […]
BofA’s Apocalyptic Forecast: Stocks Flash Crash, Bond Bubble Bursts In H1 2018, War May Follow
BofA’s Apocalyptic Forecast: Stocks Flash Crash, Bond Bubble Bursts In H1 2018, War May Follow Having predicted back in July that the “most dangerous moment for markets will come in 3 or 4 months“, i.e., now, BofA’s Michael Hartnett was – in retrospect – wrong (unless of course the S&P plunges in the next few […]
“The End Of The QE Trade”: Why Bank of America Expects An Imminent Market Correction
“The End Of The QE Trade”: Why Bank of America Expects An Imminent Market Correction Last Friday, when looking at the historic, record lows in September volatility and the daily highs in US and global equity markets, BofA’s chief investment strategist Michael Hartnett said that the “best reason to be bearish in Q4 is there […]
Central Banks Have Purchased $2 Trillion In Assets In 2017
Central Banks Have Purchased $2 Trillion In Assets In 2017 In his latest “flow report”, BofA’s Michael Hartnett looks at the “Disconnect Myth” between rising stocks and bonds and summarizes succinctly that there is “no disconnect between stocks & bonds.” Why? The best, and simplest, explanation for low yields & high stocks is simple: so […]
BofA: “Central Banks Are Now In A Desperate Dilemma”…”Start Buying Volatility”
BofA: “Central Banks Are Now In A Desperate Dilemma”…”Start Buying Volatility” One week after the second biggest weekly inflow to Wall Street on record, the “risk on” rotation ended abruptly in the ensuing five days, when as Bank of America writes overnight, it observed “Inflows to structural “deflation”, outflows from cyclical “inflation”; with oil the […]
Prepare For “Manias, Panics And Crashes”: An Ominous Warning From Bank Of America
Prepare For “Manias, Panics And Crashes”: An Ominous Warning From Bank Of America Bank of America’s Michael Hartnett is back with another controversial note overnight, reminding readers that “it ain’t a normal cycle” for one overarching reason: central banks. As Hartnett explains, the catalyst for bull in equity and credit markets since 2009 was the […]
Why According To One Bank, Massive Central Bank Intervention Is Imminent
Why According To One Bank, Massive Central Bank Intervention Is Imminent Any time the relative performance of global financials to US Treasuries has stumbled as far as it has, as shown in the chart below, it has meant one thing – a major central bank intervention was imminent. At least that’s the interpretation of BofA’s Michael […]
Bank Of America Begins 66-Day Countdown Until The Terrible Ghost Of 1937 Returns
Bank Of America Begins 66-Day Countdown Until The Terrible Ghost Of 1937 Returns In 66 trading days on September 17, 2015, the Federal Reserve will, according to Bank of America, hike rates for the first time since 2006, which according to BofA will “end the era of excess liquidity.” We disagree entirely, but let’s hear […]
