2 days ago
BofA's Hartnett Sees Profit-Taking in Stocks After Jackson Hole
The record-breaking rally in US stocks has left them prime for profit taking in the event of dovish signals from the Federal Reserve at the Jackson Hole economic symposium, according to Bank of America Corp. strategists.
The team led by Michael Hartnett said investors have flocked into risky assets from equities to cryptocurrencies and corporate bonds on optimism that the central bank will reduce interest rates to shore up a weakening labor market and ease the US debt burden.
