Hartnett: June Was The First Month In 4 Years Without Any Central Bank Hikes
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It's July, which means skeleton crews across Wall Street trading floors and weekly reports from strategists that are few and far between, if at all, while those that still publish are going for concise not expansive. And indeed, the latest Flow Show from BofA's Michael Hartnett may as well have been called the Flow Short, because Mike clearly had a shore AirBnB he had to get to early this morning.
So what did Hartnett talk about? Well, one week after flipping conventional wisdom on its head with his suggestion that instead of inflationary, Trump's tariffs bonanza will instead spark a global deflationary meltdown, the BofA chief investment strategist shifts from the fiscal to the monetary, and reports that June 24 was the first month since Oct'20 with no global central bank hikes...