US recession 'imminent', time to book profits, says BofA Securities

The brokerage says that with markets currently near their peaks, it "leaves room for correction with the onset of a recession in the US".

Boom, bust or a bit of both: as the jury bides time before ruling on the US ‘recession’, the economy’s vital signs at a perplexing time of high-interest rates, still-punishing inflation, and surprisingly strong economic gains are a study of a growing debate over whether the world’s largest economy is barrelling into a new downturn.

With the US Federal Reserve’s (Fed’s) inflation fighters attempting the risky pursuit of ‘pillow-soft landings’ and its economy sending out mixed signals, if there is indeed a recession, it could spell trouble for domestic equities and corporate earnings growth.

An analysis by Bank of America