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

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.

www.reuters.com/markets/asia/global-markets-flows-urgent-2022-05-20/?taid=62876b555430b80001ff8b8f&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter