Bank of America Says Market Primed for ‘Melt-Up’ in 1Q
- Sees 5.2% gain in S&P 500 by March 3, Treasury yield rising
- BofA strategists expect returns ‘to be front-loaded’ in 2020
Photographer: Michael Nagle/Bloomberg
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Financial markets are set for a “risk asset melt-up” in the first quarter of the new decade, according to Bank of America Corp.
As Brexit and trade war risks recede, and with the Federal Reserve and European Central Bank still adding liquidity, the outlook for the beginning of 2020 is bullish, strategists including Michael Hartnett wrote in a Dec. 12 note to clients.