Jobs key to resolve the autumn stock market drama says Bank of America

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Jobs key to resolve the autumn stock market drama says Bank of America

The upcoming labor market data is likely to"resolve autumn ambiguity," according to Bank of America investment strategists.

This data, sourced from a Bank of America note and based on figures from EPFR Global, also highlights that bond funds received $16.7 billion and gold saw an influx of $500 million for the week ending on September 11. They also suggest that commodities like oil and industrial metals could be a contrarian play, being the only asset class priced for a hard landing, in contrast to the SOFR market which is discounting 240 basis points in Federal Reserve cuts over the next 12 months.

 

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