Bernstein Disagrees With BofA That Stocks Have Seen Capitulation

Tracie McMillion, head of global asset allocation strategy at Wells Fargo & Co., said this rally was premature. “We will see capitulation and we will see value coming back into the market. But we just think it’s too early in this bear market, really too early in the Fed’s tightening cycle, to call the all clear,” she said on Bloomberg Radio.

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