Original title: BofA’s Hartnett on Markets, Investment Strategy
00:00 Should we get started with what to expect out of the US? Because I mean, we are headed towards the reopening after the holidays, but valuations are being pretty high. I mean, is this a concern? Mm. Yes, it is a concern. It’s one of the few concerns. However, I think people are very happy that we’ve seen a turn in tariffs lower. We’re seeing a turn in rates lower, We’re seeing taxation lower. And of course, you’ve got an incentive now for both the administration to be joined by the Fed in creating good economic conditions in front of the midterms next year. So I think there’s still a fair bit of momentum behind the US market. I think the difference in 2025 is that there are other stories around the world. Japan’s one of them, China is another one of them. So it’s not just a US exclusive ball story, but I think the story in the US is still fairly intact. But you’re very right, the valuations are the one thing the longer term investors are looking at in the US and saying, Can I real