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BofA: U.S. CPI Poised to Break Above 5% Before November Midterm Elections

GateNews
Indices
BAC0.06%
According to Bank of America strategists led by Michael Hartnett, U.S. CPI is projected to break above 5% before November's midterm elections, unless monthly inflation growth of 0.4% seen over the past six months slows significantly. Historically, when CPI surpasses 4%, the S&P 500 averages a 4% decline over the following three months and a 7% drop over six months. The inflation concerns have pushed 10-year U.S. Treasury yields above 4.5%, with 30-year yields breaking through 5%, a level Hartnett previously labeled the "Maginot Line."
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