Sell US Treasurys Before They ‘Crash,’ Bank of America Says
Monday, 03 Jun 2013
Investors should sell U.S Treasurys and buy bank stocks because bonds may be headed for a “crash,” according to Bank of America Corp.
“It’s hard to believe that the greatest bond bull market in history will end without some bloodshed,” Michael Hartnett, the bank’s chief investment strategist, recently wrote in a client note.
“Risks of a bond crash are high.”
Markets are getting nervous about the possibility the Federal Reserve will taper its debt-buying program, according to Hartnett, who is based in New York.