Hartnett: 2025 Marks End Of ABB And ABC Trades, And The Start Of ABD Trade

Michael Hartnett, BofA's outspoken Chief Investment Strategist, is best known for being among the most contrarian strategists on Wall Street of the old guard; he is just as well known for coming up with such investing acronyms as BIG (Bonds, International, Gold), ABC (Anywhere But China), ABB (Anything But Bonds), and many more. But if that wasn't enough, one week after Hartnett said he was betting on a return of the 1970s Nixon regime and the looming arrival of Yield Curve Control - which explains the relentless surge in gold and crypto - we can add one more acronym: ABD, or  Anything But The Dollar. 

But before we get there, first a quick recap of where we are: as Hartnett writes in his latest flow show, gold remains the biggest outperformer YTD, surging by a whopping 38%, followed by global stocks (25%), bitcoin (23%), US stocks (12%), IG Bonds (9.6%), HY Bonds (9.2%), Government bonds (6%), Commodities (4.5%) and cash (3.0%), while the biggest losers are the US dollar (-10%) and oil (-13%)