Bank of America Sees a Replay of 1998 in Summer Pain Trades
- U.S. growth, flattening curve, tumbling EMs bear 90s hallmark
- Deleveraging risks ahead for tech and credit markets: BofA
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Bank of America Corp. sees a foreboding parallel in the current direction of markets: 1998.
Emerging markets are crumbling under a strong dollar while tech stocks advance amid optimism over the U.S. growth trajectory -- two ingredients that might be the makings of an annus horribilis like the one seen two decades ago, according to the bank.