from Zero Hedge
Picking up on a warning it first issued three weeks ago, Bank of America’s derivatives group doubles down this week, cautioning again that “history suggests it would be highly unlikely for the S&P not to re-test its Mar-23rd lows given both the size of its recent drawdown (-34%) and the fact a recession is underway.”
However, the speed of the recent bear rally on the back of record and rapid policy stimulus, shown in the chart below…