Hartnett: Raise Allocations To Gold And Crypto Because Yield Curve Control Is Coming

One week after Michael Hartnett laid out the key signals to look for in deciding whether the AI bubble was bursting (something our partners at Market Ear think will no longer be allowed to happen as Nvidia alone has become too big to fail... and fall, and is now critical to national security), the BofA CIO turns his attention to what will be the last big event of the summer: next Friday's Jackson Hole Fed symposium. 

However, as usual in his weekly Flow Show, Hartnett starts of with the latest Tale of the Tape, summarizing the prevailing sentiment, which is to sell the US dollar (which according to the latest Fund Manage Survey remains one of the most crowded trades). Here's why: so far in 2025 there have been 88 central bank rate cuts, the fastest cut cycle since the 2020 covid crash.