Global markets in “unambiguous contrarian buy territory,” Bank of America says

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The trillions wiped off global markets in recent weeks has triggered a contrarian ‘buy’ signal from BofA’s closely-followed ‘Bull & Bear’ sentiment indicator, while emerging markets are seeing their toughest time since the peak of the COVID crash.

Fears that inflation and fast-rising rates will send major economies into recession have sent global markets in a downward spiral with global equities (.MIWO00000PUS) losing close to 18% since the beginning of the year. It is the worst start to a year on recent record.

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