Bank of America: Recent selling wave has not yet hurt US stocks "key"
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The recent selling wave has not yet affected the "key points" of the US stock market. The global financial market turmoil has not reached a level that triggers concerns about an economic hard landing. Investors' expectations of a Fed rate cut imply that the preference for stocks over bonds still exists. The S&P 500 index fell by 6%, but still remains above the 200-day moving average. The yield on the US 30-year Treasury bond has not fallen below 4%. These trends indicate that the narrative on Wall Street has not shifted from a soft landing to a hard landing technically
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