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Wall Street's Biggest Bear Lays Out How To Invest In "The New World Order"

Tyler Durden's Photo
by Tyler Durden
Saturday, Mar 26, 2022 - 04:21 PM

One week ago, BofA's notorious permabear, Chief Investment Strategist Michael Hartnett dubbed the currently market bounce as nothing more than a "bear market ceasefire rally", one which would soon end as the bear market returned once the full extent of the "recession shock" is unveiled in few months, as the shockwave from the Ukraine war finally reaches the US.

However, fast forwarding to today and what may have been a slam dunk case of "sell the rip" has gotten more complicated because even as the "bear market rally" continues amid a relentless surge in interest rates and inflation expectations, not to mention a Fed which is now openly belligerent to continued gains in risk assets (after all, Powell wants demand destruction not demand creation) all of which assure that a crash is a question of when not if, that when may have been delayed a bit because as Hartnett writes in his latest Flow Show note (available to pro subscribers in the usual place), the bull case just got an unexpected boost as the Bank of America Bull & Bear Indicator just dropped from 2.3 to 2.0, triggering a Buy Signal, on the surge in BofA Fund Manager Survey cash, soaring equity/credit outflows, and poor equity breadth.