Posted 3/16/2024, 6:46:03 PM
Bank of America Strategist Warns of Possible Market Bubble
- Markets showing signs of a possible bubble due to soaring crypto prices and tech stocks, says Bank of America strategist
- There is "tremendous euphoria" in markets driven by the Fed's intent to cut rates
- Strategist sees bubble-like characteristics in terms of price, speed of movement, valuation, and narrowness
- Macro data in US looking ominous, particularly cracks in the labor market
- Backdrop of slightly higher inflation and weaker growth often not good for risk assets