Rate cuts by the FRB could be a sign of trouble for the U.S. economy, according to Mr. Harnett.
Rate cuts could raise concerns about a hard landing and potentially provide tailwinds for bonds.
U.S. stock funds see inflow for the 7th week - $4.6 billion.
The rate cut by the Federal Reserve Board (FRB) may be a sign of trouble for the US economy, as pointed out by a strategist at Bank of America (BofA).
Despite the environment of rising long-term interest rates since last October, US stocks have been rising due to the resilience of the economy and corporate performance. Investors are hoping that the FRB will start monetary easing before significant negative impacts on economic growth occur.
U.S. stock funds see inflow for the 7th week - $4.6 billion.
The rate cut by the Federal Reserve Board (FRB) may be a sign of trouble for the US economy, as pointed out by a strategist at Bank of America (BofA).
Despite the environment of rising long-term interest rates since last October, US stocks have been rising due to the resilience of the economy and corporate performance. Investors are hoping that the FRB will start monetary easing before significant negative impacts on economic growth occur.
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