Bank of America Corp. strategist Michael Hartnett has warned that the current risk-off sentiment in markets is likely to persist until mid-November. In a client note on Friday, Hartnett cited ongoing concerns about the artificial intelligence trade and the upcoming US midterm elections as key factors dampening investor confidence.
The strategist advised a cautious approach, predicting a trade characterized by declining yields, falling stock prices, and a weaker US dollar. This outlook reflects broader market anxieties amid geopolitical and economic uncertainties.
Hartnett’s assessment underscores the cautious stance many investors have adopted in recent weeks. The combination of political risks and volatile market conditions has led to heightened caution across asset classes.