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BofA Warns: Bond Rout Shaping Up as Worst Bear Market Ever
Bull Bear Indicator Hits Five-Month Low
Contrarian Buy Signal Triggered
Bank of America (BofA) has issued a dire warning, stating that the ongoing fixed-income market rout is evolving into the most significant bond bear market in history.
BofA's Bull Bear indicator, a contrarian indicator for riskier assets, has plunged to a five-month low of 26. This decline was driven by poor equity breadth outflows from emerging markets high yield bonds and developed market stocks.
According to BofA strategists, led by Michael Hartnett, a buy signal for riskier assets is triggered when the Bull Bear Indicator dips below 20. However, the strategists emphasize that this buy signal coincides with a period of extreme market volatility.
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