“Buy the first rate hike and sell the penultimate”: will the Wall Street stock market almanac be right?
Historically, the old market saying implies that the first interest rate hikes by the Federal Reserve are “good”, especially in a scenario with relatively strong economic growth and a mid-cycle bull market. That said, from Bank of America, its chief strategist, Michael Hartnett, warns in a note to his clients that, on this occasion, the … Read more