Investors should flock into commodities for the next few years as they benefit from global geopolitical and macroeconomic turmoil, according to Bank of America’s Michael Hartnett.
Stocks would be replaced by commodities as the biggest winners of the “anything but bonds” trade for the rest of the 2020s as investors seek protection against risk, inflation and a weaker dollar, the strategist wrote. Fiscal excess means that the next few years are “more likely to see bear market rallies in government bonds, but no bull market.”
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