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BofA Warns Investors to Exit US Assets Amid Fragile Market Rally
BofA Warns Investors to Exit US Assets Amid Fragile Market Rally
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Bank of America has issued a stark warning to investors, urging them to sell dollar holdings and equity positions despite recent market gains. Strategist Michael Hartnett attributes the S&P 500’s rally to a narrow tech sector surge—dubbed the ’Magnificent 7-led squeeze’—rather than fundamental economic strength.
The bank identifies three unresolved threats: stalled Fed rate cuts, unresolved US-China trade tensions, and weakening consumer spending. Hartnett emphasizes that the S&P 500’s potential breakout to 5,690 remains contingent on these macro improvements. ’Sell every rally’ becomes the defensive mantra as traditional markets show vulnerability.
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