“We say that this is a correction, not a bearish market for US actions,” the bank wrote in a note published this week.
For Michael Hartnettof Bank of America Corpthe fall in US actions is “A technical correction” And not the beginning of a “New Boldist Market” since it is likely to cause a political intervention.
The strategist recommended buying the S&P 500 to 5,300 points, a fall of another 4% from the closing of Thursday. He said that this level would indicate that the liquidation has ended if it is accompanied by more actions of shares, an increase in the effective levels of fund managers above 4% of the assets under management and an extension of the US corporate differentials of the US to 400 basic points.
“We say that this is a correction, not a bearish market for US actions.”Hartnett wrote in a note. “Since the bear market of shares threatens with a recession, new falls in shares prices will cause a change in commercial and monetary policy,” he said.
Wall Street: strong losses since Trump assumed
The S&P 500 records a loss by 10% until it enters the correction territory from the maximum of Februarydue to the concern that President Donald Trump’s policies make the economy fall into recession in the midst of his threats to a global commercial war.
He Nasdaq 100of high technological weighting, it sank 13% for fears around the high assessments. A bearish market is defined as a 20% drop from a recent maximum.
As inflation shows signs of relaxation, all eyes are put in The political reserve political decision next weekalthough Swaps operators are not currently discounting another rate cut until June.
Source: Ambito
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