This is Exactly How I Feel = 'I'm so bearish, I'm bullish': BofA says 'maximum liquidity' will push stocks to new all-time highs, but a COVID-19 vaccine will mark the 'big top'
By Matthew Fox Aug. 7, 2020 Spencer Platt/Getty Images The stock market is set to continue moving higher in 2020, as "maximum liquidity" is all that matters, according to a Bank of America note published on Friday. But under the surface, there's plenty to be bearish about as low yields incite a bubble in stocks just as Main Street enters a recession, BofA said. Investors should expect stocks to keep moving higher in 2020, but 2021 will be bearish as a COVID-19 vaccine is likely to mark the "big top," according to the note. "I'm so bearish, I'm bullish," BofA's Michael Hartnett said in the note. "I'm so bearish, I'm bullish." That's how Bank of America strategist Michael Hartnett summed up his thinking on the markets in a note published on Friday, as the S&P 500 is just 1% away from making new all-time highs just as Main Street enters a recession, according to the note. A "decade-long backdrop" of low-...