美银哈特内特警告：全球股市超买触发抛售信号

Core Insights - Global stock markets are showing overbought warning signals, with moving average indicators reaching historical sell thresholds for risk assets [1][3] - As of the week ending January 28, 89% of MSCI indices are above the 50-day and 200-day moving averages, surpassing the 88% threshold identified as a sell signal by Bank of America [1][3] - Despite a high level of investor positioning and a withdrawal of $15.4 billion from stock funds, the overall market sentiment remains "extremely" bullish according to Bank of America's bull-bear indicator [1][3] Market Trends - On January 27, the MSCI global index reached a historical high, with the monthly increase expected to be the best since September 2025 [1][3] - The recent week saw a resurgence of inflows into U.S. stock funds, attracting $9.2 billion, while European stock funds experienced their first outflow in seven weeks, totaling $400 million [1][3] Investment Strategies - The preferred trading strategy for 2026, as indicated by strategist Michael Hartnett, includes going long on bonds, international stocks, and gold [2][4] - Hartnett has maintained a positive outlook on international stocks since late 2024, which has been validated by the subsequent underperformance of the U.S. stock market [2][4]