Article Image
IPFS News Link • Stock Market

BofA: We Are "Irrationally" Bullish On 2019, But A Liquidity Crisis Is Coming In 2020

•, by Tyler Durden

In what Bank of America's CIO Michael Hartnett calls a "Miracle on Wall Street" in his latest Flow Show weekly, he lists a barrage of negative catalysts including: i) yield curve inversion, ii) US-China trade war, iii) recession in Germany, iv) collapse in Chinese industrial production, v) contraction in global profits, vi) oil price spike, vii) BREXIT, viii) Trump impeachment inquiry, ix) Argentine default/Ford downgrade, x) Thomas Cook bankruptcy...and yet risk assets close to all-time highs and US stocks on course for 30% annualized returns, global stocks 24%, commodities 17%, global IG & HY bonds 14%, US Treasuries 10%... or as he concludes laconically, this is "breathtaking stuff."