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According to Bank of America chief strategist Michael Hartnett, the turmoil in the global financial marekt has not yet reached a level that raises fears of a hard economic landing. The S & P 500 index (SPX) has fallen about 6% since hitting a record high in mid-July, and the benchmark stock index remains above its 200-day moving average of around 5,050, while the yield on the 30-year U.S. Treasury note has yet to fall below 4%. Michael Hartnett wrote in a memo that "Wall Street's...

2024-08-09 19:49:22