A “recession shock” begins for markets following the worst first-half for the S&P 500 in more than 50 years, Bank of America Corp.’s Chief Investment Strategist Michael Hartnett says.
While expectations of aggressive rate hikes by the Federal Reserve are peaking, inflation expectations are not, and Bofa’s bull and bear indicator remains at “maximum bearish” for a third week in a row, Hartnett wrote in a note.
