Bank of America sees bonds, bullion and breadth as the three winners in the year ahead ...Middle East

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Bank of America sees bonds, bullion and breadth as the three winners in the year ahead
In a recent forecast that doesn't mince words, BofA Securities' investment strategist Michael Hartnett predicts a significant shift in the financial markets for the final part of 2023 and in 2024. He points towards a trio of winners: bonds, bullion, and market breadth, signaling a reversal in trend from 2023. The key to understanding those three "Bs" is understanding the "3Ps" and "3Cs" Hartnett's approach, which he dubs the "3Ps", encapsulates a combination of bearish positioning, recessionary profits, and policy easing. While acknowledging that bulls outperformed bears in 2023, Hartnett suggests a readiness to shift to a 'full bull' stance, contingent on these factors aligning. He warns of

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