BOFA'S HARTNETT WARNS OF MARKET RISK-OFF PERIOD AHEAD Bank of America's Michael Hartnett expects investors to reduce risk over the next 3–4 weeks, citing 3% real yields, persistent inflation, AI valuation concerns and U.S. midterm election uncertainty. Hartnett expects an October Fed rate hike, despite markets increasingly pricing in a pause. His preferred sectors include small caps, REITs and consumer discretionary, while avoiding additional technology exposure. The key takeaway: Higher yields and political uncertainty could pressure risk assets in the near term.(彭博社)