Bank of America says its defensive stock picks reflect its 'cowardice, and need to survive beyond the trough.'
Bank of America believes the U.S. will tip into a recession, and that could have spillover effects on other regions — including Asia. "In the past seven U.S. recessions since 1973, Asian equities fell by an average of 50%, and [earnings per share] contracted by 30%. Both shallow and deep recessions were awful for Asia," Bank of America's strategists, led by Ajay Singh Kapur, said in a note dated Jul. 18. The bank is expecting a "shallow" U.S.
Stock picks to reflect 'cowardice' So how should investors position in such an environment? "We reproduce our 26 stock defensive, high quality basket of names – BofA Buy-rated large stocks with low price and earnings volatility, high profitability and high dividend yields – that reflects our cowardice, and need to survive beyond the trough," Kapur said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of Japan board reshuffle brings in less dovish memberThe Bank of Japan has reshuffled its board and brought in a new member seen as more keen to end ultra-low interest rates than his dovish predecessor, potentially tilting the board away from Governor Haruhiko Kuroda's aggressive monetary easing policy.
Read more »
KSAT Community Vaccine Phone Bank: UH medical experts to answer your vaccine questionsSubmit your questions regarding immunizations or other health related inquiries and tune in July 27 for the KSAT Community Vaccine Phone Bank. KSAT Community Partners: UnivHealthSA, EnergyTransfer and rbfcu
Read more »
Palestinians: Israeli forces kill 2 in West Bank raidTEL AVIV, Israel (AP) — Israeli troops shot and killed two Palestinians Sunday, the Palestinian rescue service said, as the military said it confronted armed men during overnight operations in the occupied West Bank.
Read more »
Israeli forces kill 2 Palestinians in West Bank in shoot outIsraeli forces exchanged fire with Palestinians barricaded in a house in the West Bank on Sunday, killing two, according to Israeli police and the local rescue service.
Read more »