Friday, October 20, 2017

Nasdaq stocks, U.S. high-yield bonds on bubble watch

Prospective bubbles in U.S. technology stocks and high-yield bonds represent the biggest risk for markets, according to Michael Hartnett, chief investment strategist at Bank of America Corp.’s Merrill Lynch unit. He cited the Nasdaq Composite Index and Merrill’s U.S. high-yield index in a report Thursday. Any surge in the indicators would mark the end of an “era of excess liquidity and disruption,” Hartnett wrote, referring to central banks’ easing of credit and technology’s effect on business.

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