BofA says sell equities rally before 2023 unemployment shock

Bloomberg/Sagarika Jaisinghani/12-2-2022

“Bears (like us) worry unemployment in 2023 will be as shocking to Main Street consumer sentiment as inflation in 2022.”  – Michael Hartnett, Bank of America

USAGOLD note: Bank of America made this analysis public before Friday’s surprise payrolls report showing strong gains in the employment sector. We would be surprised if the report altered BofA’s thinking.