BofA Warns Toppy Stock Market as Investors Entering Money Market
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BofA Warns Toppy Stock Market as Investors Entering Money Market

January 9, 2021      Vandana Malik

The Bank of America (BofA), has warned of extremely toppy stock markets in its latest weekly fund flow data, revealed on Friday, January 08, 2020. According to BofA, a huge number of investors are entering into the money markets and gold funds, with hindrances from the crypto market. This is also indicating that investors are also pulling money out of the emerging markets. However, U.S. stocks have seen an inflow of $10 billion. 

Michael Hartnett, the chief investment strategist of BofA, has said:

“Sell the vaccine: frothy prices, greedy positioning, inflationary and desperate policymakers, peaky China, and consumer all ultimately (a) toxic brew in 2021.”

BofA Believes 2020 Trend Is Coming into 2021

BofA has also claimed that the 2020 trend of buying everything, seems to be coming in 2021 as well. However, there might be a slowdown in risk assets and the reason is that policy, positioning and profits will be at the peak by the end of Q1 2021. David Solomon, Chief Executive at Goldman Sachs, has said that he has been preparing for huge volatility coming in the stock market. He also claimed that there might be some excess in the market, anytime soon. There are several other analysts as well that have been warning of an aggressive speculative fever that is coming around the corner. 

Bankers Talking About Spark in Cryptocurrencies

Not only the stock market, but bankers are also talking about the recent surge in cryptocurrencies. BofA has also mentioned Bitcoin by saying that it is blowing the doors off right before the bubbles. The reason behind saying this is because Bitcoin has doubled within a month and is continuing this historic bull run. JPMorgan has also claimed that these recent surge and all-time highs of Bitcoin are completely unsustainable. However, it has also claimed that digital currency might reach new heights in the long-term.

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#2020 Trend #BofA #David Solomon #Investors Entering Money Market #Michael Hartnett #Spark in Cryptocurrencies #Toppy Stock Market
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.