It's The Fed, Stupid

While the mainstream media were quick to blame the recent demise of US equity markets on Trump's trade-war rhetoric, BofAML's Michael Hartnett disagrees, correctly pointing out that risk assets have been struggling because of Fed tightening.

  • Apr 9, 2018 3:10 PM

Bank of America: "It Ain't Over"

"The Goldilocks bull market ended dramatically in March 1994 with a payroll print of 464K, aggressive Fed hikes (100bps in 3 months); a rout in bonds (Jan-Nov'94 yields jumped 200bps) & a 10% drop in SPX."

  • Jan 5, 2018 10:23 AM