ZeroHedge 77.4%
Hartnett: "Red, White And Boom"
By Tyler Durden - 7/4/2026, 11:16 PM - 116 words
Faulty reasoning signals
- Confirmation Bias - 38.8% (45 hits)
- Anchoring Bias - 0%
- Availability Heuristic - 0%
- Representativeness Heuristic - 0%
- Hindsight Bias - 18.1% (21 hits)
- Overconfidence Bias - 18.1% (21 hits)
- Framing Effect - 60.3% (70 hits)
- Loss Aversion - 0%
- Status Quo Bias - 0%
- Sunk Cost Effect - 0%
- Optimism Bias - 0%
- Pessimism Bias - 21.6% (25 hits)
Article text
Hartnett: "Red, White And Boom"
For the holiday weekend, BofA's Michael Harnett is out with a quick market update in his latest *Flow Show *note.
The BofA CIO starts off by analyzing the latest "Tale of the Tape" which, as we enter the second half, is split in two: first, **there are the Q2 AI/US boom leaders: ** *SOX 88%, KOSPI 64%, biotech 24%, small cap 21%, and banks 17%.
* On the other end, are the **Q2 war/inflation laggards: ** Saudi -4%, China -10%, gold -14%, bitcoin -14%, energy -15%, defense -16%, oil -31%.
He also notes that the **ratio of Treasuries to gold is breaking the 2020s down-trend**, which hints at peak inflationary de-globalization.