Bank of America’s Hartnett: When the U.S. debt reaches $38 trillion, should you buy U.S. Treasuries, corporate bonds with spreads at a 20-year low, U.S. stocks at a 40x CAPE, or surging gold? It’s tricky.
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With money market fund yields expected to drop at least 100 basis points (Fed rate cuts) over the next few quarters, should I buy U.S. Treasury bonds when the U.S. government debt has reached $38 trillion? Or should I buy corporate bonds when credit spreads are at 20-year
