Hartnett Ends Sell Signal as Policy Panic Kicks In
Source: zerohedge.com
- Michael Hartnett ends his major "sell" signal on stocks after a sharp market drop.
- US policy shifts toward looser money printing and bigger deficits spark a "policy panic."
- Investors now face rising inflation risks and potential bond market turmoil.
Michael Hartnett, Bank of America's top strategist, is calling off his big "Big Over" sell recommendation on risky assets like stocks. He's pointing to a sudden pivot by US policymakers toward aggressive easing - think more money printing and ballooning deficits - which he dubs "policy panic." This matters because it could juice markets short-term but risks reigniting inflation and hammering bonds, forcing investors to rethink their bets.