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BofA: "This Is The Key Risk-Off Signal" Ahead Of This Autumn's "Big Fall"

One month ago, BofA's chief investment strategist Michael Hartnett predicted that the "most dangerous moment for markets will come in 3 or 4 months." So now that we are between 25% and 33% closer to said "moment", what does Hartnett think now? Perhaps not surprisingly, in a note released on Friday, the Bank of America analyst writes that with a surge in risk off flows, a "more imminent Aug/Sept risk-off trade" is looking plausible "if poor politics shows up in consumer confidence, US dollar rises despite lower UST yields and further drop in US presidential approval ratings" compounded by high yield credit spreads gapping toward 500bps and ending tech leadership reversal.
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