BofA's Doomsday Prediction: The Fed's 2021 Policy Of "Rhetor

BofA's Doomsday Prediction: The Fed's 2021 Policy Of "Rhetorical YCC" To Support Stocks "Ultimately Fails"


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BofA's Doomsday Prediction: The Fed’s 2021 Policy Of "Rhetorical YCC" To Support Stocks "Ultimately Fails"
by Tyler Durden
Friday, Apr 30, 2021 - 08:00 PM
Bank of America's Chief Investment Strategist Michael Hartnett has long warned that the current, unprecedented experiment in monetary central planning will lead to a catastrophic bad ending, most recently two months ago when during the recent yield melt up he said that "The Fed Will Inevitably Move To YCC" As "Rates Are No Longer Anchored."
And while the turmoil in the bond market has subsided in the past 8 weeks, the inflation that surging bond yields telegraphed was coming has arrived, and as Hartnett writes in his latest Flow Show note published overnight, "lumber, copper, steel, iron ore, tin, corn, soybeans, at or close to all time highs", a fact we have repeatedly demonstrated in recent days.

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