'Soon, all commodity charts will look like gold.' BofA's Hartnett goes bullish on commodities.
Bank of America's chief investment strategist, Michael Hartnett, is bullish on commodities, predicting they will outperform bonds due to the "run it hot" economic policy of the Trump administration. He sees oil and energy stocks as the best contrarian bet for 2026, with metals and natural-resource stocks already breaking out. Hartnett attributes current bullish sentiment to market-supporting factors from the Fed, the White House, and Generation Z investors. He notes that commodities' 10-year rolling returns are the highest versus bonds since 2008.