Bank of America Merrill Lynch has a disquieting solution to this vexing mystery: Why are markets struggling despite blockbuster earnings growth? “It’s late-cycle, profits are peaking, and the Fed is tightening,” according to a team led by chief investment strategist Michael Hartnett. Investors are too optimistic about the global expansion and the ability of economies to handle rising rates, Hartnett wrote in a May 6 note. …read more
Source:: Yahoo Finance
