BofA Says US Stocks Can Avoid Big Drop If Yields Stay Below 5%

-- US stocks can avoid a dire outlook as long as bond yields stay below a historic high of 5%, according to Bank of America Corp. strategist Michael Hartnett.The strategist — among the more bearish voices on Wall Street — said the S&P 500 index can continue to trade above 4,200 points in the near term in such a scenario.

With money market funds still seeing annualized inflows this year at $1.4 trillion, investors need to see an economic contraction as well as rate cuts to “sell cash” and “ignite new bulls,” the strategist said.About $8.2 billion left global stock funds in the week through Oct. 11, while cash funds attracted $16.9 billion and $3.7 billion entered bond funds, according to the note citing EPFR Global

NEW YORK -Digital World Acquisition Corp, the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of commitments.

Russia rolls out currency controls in a bid to revive the ruble, which has cratered against the dollar this year

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. crude stocks rose last week while fuel inventories fell, EIA saysU.S. crude inventories rose by 10.2 million barrels in the last week to 424.2 million barrels
Source: globeandmail - 🏆 5. / 92 Read more »

BofA Document Shows Investors’ Views on Turkey After Meetings With Finance Minister - BNN BloombergEfforts to lure disillusioned investors back to Turkey are making slow progress, according to a leaked Bank of America Corp. document that reveals investor reactions to private meetings with Turkish Finance Minister Mehmet Simsek in London.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

BofA turns bullish on stocks. Plus, why markets are displaying little reaction to the crisis in the Middle EastA roundup of investment ideas for active investors
Source: globeandmail - 🏆 5. / 92 Read more »

Stocks waver after wholesale inflation data surprises: Stock market news todayAfter the PPI update suggests inflationary pressures persist, the focus is on Federal Reserve minutes for insight into whether the era of hikes is over.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks waver after inflation data surprise, Fed minutes: Stock market news todayWall Street is looking ahead to consumer inflation data on Thursday for more insight into the Fed's next move.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks mixed as CPI inflation holds steady: Stock market news todayStocks were mixed on Thursday as investors digested a September inflation report that some economists believe will keep the Fed on hold in November but could...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »