BoA: It’s Time To Buy Stocks

Buy stocks; that’s the simple message of an investment strategy research note sent out by Bank of America’s chief investment strategist Michael Hartnett to clients earlier this week.

Goldman: The S&P 500 Will Hit 2,100 By Year-End

Hartnett’s simple bullish message is based on the pessimistic attitude of investors in the market following Brexit and amid the general global economic malaise. Indeed, according to Bank of America’s research, investors ended June with the highest cash allocation on record at 5.7% on average and reported the lowest equity allocations in four years. Moreover, it looks as if investors are capitulating into bonds with annualised year-to-date return from global government bonds in 2016 at 25%, the highest return in 30 years. These...