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Investor sentiment 'unquestionably' at worst level since 2008 financial crisis: BofA
Could the Fed have a ‘nasty surprise’ in store for markets?
Wells Fargo Investment Institute global market strategy head Paul Christopher and Muhlenkamp & Company portfolio manager Jeff Muhlenkamp forecast the next move for markets ahead of the Fed’s September rate announcement on ‘The Claman Countdown.’
Investors are turning increasingly bearish on the state of the U.S. stock market as persistently high inflation and an aggressive Federal Reserve darken the economic outlook, according to Bank of America strategists.
In an analyst note, the Bank of America strategists — led by Michael Hartnett — said that investors are flocking to cash as they shun other assets.
For the week through Sept. 21, cash saw inflows of $30.3 billion, compared to a loss of $7.8 billion for global equity funds and outflows of $6.9 billion for bond funds. Gold saw a decline of $400 million.
The disparity is the result of lackluster investor sentiment, which is "unquestionably" the worst it's been since the 2008 global financial crisis. Losses in government bonds are at the highest level since the 1920s.
BILLIONAIRE DAVID RUBENSTEIN WARNS INFLATION WILL BE 'DIFFICULT' FOR THE FED TO REDUCE