Bank of America's Michael Hartnett believes that the risk of a speculative stock market bubble is increasing as expectations of US interest rate cuts attract large amounts of capital into the stock market. The Hartnett team wrote in a report that “shifting from tariffs to tax cuts/interest rate cuts” could cause a high bubble risk in the second half of the year and further weaken the dollar. The report quoted EPFR Global data as saying that 164 billion US dollars have flowed into the US stock market this year, which is expected to become the third largest annual inflow in history.

Bank of America's Michael Hartnett believes that the risk of a speculative stock market bubble is increasing as expectations of US interest rate cuts attract large amounts of capital into the stock market. The Hartnett team wrote in a report that “shifting from tariffs to tax cuts/interest rate cuts” could cause a high bubble risk in the second half of the year and further weaken the dollar. The report quoted EPFR Global data as saying that 164 billion US dollars have flowed into the US stock market this year, which is expected to become the third largest annual inflow in history.