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BofA's Hartnett admits 'bears like us have been wrong,' sees these conditions ahead

Source: cnbc.com cnbc.com
News Snapshot:

Bank of America chief investment strategist Michael Hartnett has joined his colleagues in admitting he was too pessimistic in his outlook for stocks this year. In his weekly note to clients examining the flow of money through the market, Hartnett took a jab at himself, labeling his outlook the product of "A Bear of Very Little Brain." Further, he outlined several reasons why "bears like us have been wrong" in the first half of 2023. Essentially, he chalks up the miss to three factors: "Goldilocks" economic conditions taking hold, muted contagion from the March collapse of Silicon Valley Bank and…

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