U.S. stocks could fall 10% as 'pain trade' takes hold before bouncing back later in the year

The year ahead is promising not to be an easy one for investors as a recession threat looms, but Bank of America is offering some advice on when things might get easier.

The bad news is things might get harder first, even after global stocks have seen a strong start to the year. The “pain trade is up ’til Fed rate forecasts, yields, credit spreads trough signal peak Goldilocks,” he said. Hartnett sees the S&P 500 SPX positioned to trade between 3,600 and 4,200 but expects the former ahead of the latter. That’s actually the opposite of what Stifel Chief Equity Strategist Barry Bannister had to say earlier this week.

Lol. They could also go up 10 percent.

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