If An Iran Peace Deal Is Agreed, These Are The Assets Investors Should Buy, Says Bank Of America
Consumer stocks, bitcoin and gold are on that shopping list. Bank of America's Michael Hartnett likes consumer stocks, real-estate investment trusts and gold if peace in the Middle East breaks out soon.With markets increasingly confident of a peace agreement being signed soon between the U.S. and Iran, investors may be wondering which assets they should be buying when the announcement comes.Hartnett said President Donald Trump should move quickly to wrap up the U.S.-Iran conflict, because getting asset prices higher is the best way to implement his "America First" strategy. The urgency comes as Trump's inflation approval rating has plummeted to 27% - dropping below former President Joe Biden's - while U.S. oil inventories are hovering at a 45-year low. As well, data released this week showed consumer-price inflation above 4%.India and Indonesia were also badly affected by the spike in energy prices and the difficulty in obtaining sufficient quantities of crude . The rupee has fallen 5%