BAML Warns On "Shock" As Did Bridgewater and Goldman; NIRP Trades At Risk
When surveying the hedge fund positioning landscape, Michael Hartnett, global chief investment strategist at Bank of America Merrill Lynch, might see sheep lining up on their knees worshiping at the altar of zero or negative interest rate policy. In a Global Fund Manager Survey, the bank observes that ZIRP winners are a crowded trade as the unprecedented economic actions might be set to experience a documented heightened degree of sensitivity. Like Bridgewater Associates and Goldman . . .
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