The 12 least expected market outcomes of ’24 – and how to trade them

BofA strategist Michael Hartnett takes a look at what money managers least expect next year. In his weekly Flow Show note, Hartnett surfaces 12 things institutional investors aren’t preparing for in 2024, according to the BoifA November Fund Managers Survey. They are: Better geopolitics, with 89% of respondents saying risk is above normal. A hard landing (just 21% expect) No landing (just 7%) Higher inflation, with 6% forecasting a higher CPI Higher rates, with 6% seeing higher short rates Higher bond yields, with 18% expecting higher long rates Restrictive fiscal policy (9% say policy too restrictive) Yield curve flattens (16%…