The Icarus trade is still in play, but only just according to Bank of America Merrill Lynch’s chief investment strategist Michael Hartnett and team in their 30 March global investment strategy research note.
The Icarus trade is Bank of America’s final melt-up trade. Based on the story of the carpenter’s son who flew too close to the sun with his wax wings, the Icarus trade refers to the irrational exuberance of markets and their final melt-up before crashing down as fundamentals fail to live up to investor expectations.
Icarus Trade Is Ending Get Ready For Humpty Dumpty
There’s no exact timeframe for Hartnett’s Icarus trade to unfold. However, Bank of America’s team believes the S&P 500 can trade as high as 2500,...
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