BofA Joins Citi’s Call to Sell Stocks If Trump Win Sparks Rally
- Republican election sweep could spur inflation, Hartnett warns
- Market consensus is for Trump win to add fuel to stock rally
Donald Trump, right, during a campaign event at Madison Square Garden.
Photographer: Adam Gray/BloombergThis article is for subscribers only.
Investors should consider selling any rally in US stocks if Donald Trump wins the election, Bank of America Corp.’s Michael Hartnett said, echoing a call from Citigroup Inc. earlier this week.
A White House victory for Trump accompanied by Republican majorities in the Senate and the House of Representatives could result in tax cuts and immigration controls, Hartnett wrote in a note. That would drive inflation and interest-rate hikes, making it risk-off for stocks, he said.