With receding trade war and Brexit risks and the Federal Reserve and European Central Banks adding liquidity, financial markets could be in for a “risk asset melt-up” in the first quarter of the new decade, according to Bank of America Corp.
The outlook for the beginning of 2020 is bullish, strategists including Michael Hartnett wrote in a Dec. 12 note to clients.
Key point (Source: Bloomberg)
The strategists expect the S&P 500 to reach 3,333 by March 3 — a rise of 5.2% from Friday’s close — and see the 10-year Treasury yield hitting 2.2% by Feb. 2, an increase of 36 basis points.
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