12/8/2023, 1:57 PM (Source: TeleTrader)
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BofA: Stock markets may face challenges in Q1 2024

Bank of America analyst Michael Hartnett warned Friday that stock markets may face challenges in the first three months of 2024 if bonds rise, showing a deceleration in economic growth.

According to the strategist, falling yields have been a critical driver of equity returns in the current quarter.

However, if yields fall further toward 3%, it could mean a "hard landing" for the economy. In this case, the traditional description of "lower yields = higher stocks" could change to "lower yields = lower stocks."

Baha Breaking News (BBN) / JG