BofA Strategist Hartnett Says Inflation to Force Trump’s Hand on Tariffs
- Strategist says price pressures could be good news for markets
- Stocks, bonds rebound after slump on hot inflation reading
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Faster inflation in the US could end up being good news for financial markets because it will force President Donald Trump to opt for smaller trade tariffs, according to strategists at Bank of America Corp.
Stocks and bonds briefly slumped after a surprisingly hot reading of the US consumer price index on Wednesday, but bond yields have since declined and the S&P 500 is now within striking distance of a record high.