Wall St: Stock surge is a bear-market trap with curve inverted, warns BofA

The 11% surge in US stocks in the past two weeks has the hallmarks of a bear-market rally that might give way to deeper losses. That’s the conclusion of analysts at Bank of America, who say warning signs are flashing for a market that has climbed “despite clearly weaker fundamentals,” including a Federal Reserve bent on raising rates sharply this year to battle persistent inflation.
 

The strategists caution that the selloff that took the S&P 500 12% from its January record is not over and sharp rallies are typical of volatility in bear markets, with some of the biggest on