Reuters/Julien Ponthus/4-8-2022
“‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming”, BofA chief investment strategist Michael Hartnett wrote in a note to clients, adding that in this context, cash, volatility, commodities, and cryptocurrencies could outperform bonds and stocks.”
USAGOLD note: Don’t know about the last rec. Thus far, as shown in the chart below, crypto’s pretty much followed the NASDAQ script – not really demonstrating any contrarian tendencies. In the past, Hartnett has warned we are headed for a period of 1970s-like stagflation
Bitcoin and NASDAQ
Chart courtesy of TradingEconomics.com
