Bank of America: Weak employment report is a signal of stagnation, increasing the risk of selling US stocks
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Bank of America strategist Michael Hartnett said that a weak non-farm payroll report could increase the risk of stock market sell-offs. According to him, US economic data shows a slowdown in economic growth, with high inflation and labor costs. He believes that the market is in the "late stage of a long bull market" and may eventually experience a bubble or recession. In addition, Hartnett also pointed out that bonds are in the "early stage of a long bear market" and the US dollar is in a "long bear market". Commodities, on the other hand, are in the "early stage of a long bull market"
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