The bank's investing team has come up with moves that investors can make to protect themselves against challenging conditions.
As interest rate hikes begin to bite harder and the U.S. economy faces the prospect of recession, investors face another year of heightened volatility and tough choices. Bank of America strategists see risks of a Federal Reserve policy mistake in 2023 that could generate a "hard landing" for an economy trying to fight through elevated inflation. The bank's investing team has come up with 10 moves that investors can make to protect themselves against challenging conditions.
That strategy is a bet on "secular leadership shift in 2020s from deflation to inflation assets, driven by globalization to localization, monetary to fiscal excess, inequality to inclusion and so on just beginning; capex set to be new macro bull story," Hartnett said. Another idea is to go long gold and copper. The former is a classic inflation hedge while the latter is seen as an industrial bellwether. Hartnett likes the trade based on a peak in the U.S.
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