BofA thinks the market turns ‘risk on’ in mid-2023 and 9 other calls for next year | Forexlive

Bank of America is out with 10 macro calls for next year, including an ‘all but inevitable’ recession in the US, eurozone and UK next year. They see a peak in the US dollar in H1 followed by a better mood for markets in the back half.

I see these calls as generally in-line with the consensus and oftentimes the best trade is to fade the strongest consensus calls, but which way? So much of the consensus this year is in the middle, predicting neither strong risk-off or risk-on trading. Last year, many macro calls were for a weaker US dollar and it was just the opposite.