Bank of America Analyst Predicts Extended Risk-Off Sentiment

Friday, October 2, 2026·Consolidated from 3 sources

Bank of America's Michael Hartnett believes the current risk-off market sentiment is likely to persist until the US dollar reaches its peak. This outlook suggests a continued cautious approach may be warranted for investors in the near term. The firm also noted a specific drug from Johnson & Johnson that may be underestimated by Wall Street.

According to reports, a key strategist at Bank of America anticipates that the prevailing risk-off market mood will continue for an extended period. Michael Hartnett, a prominent figure at the financial institution, has indicated that this sentiment is expected to last until the US dollar finishes its ascent.

This forecast suggests that investors may need to brace for continued market volatility and a preference for safer assets. The prevailing environment is characterized by caution, with market participants likely to favor investments perceived as less risky amidst global economic uncertainties.

In separate commentary, Bank of America's analysts also highlighted a particular drug developed by Johnson & Johnson, suggesting that Wall Street may be undervaluing its potential. This specific insight comes as the firm continues to analyze various sectors and individual company performances.

Further contributing to market analysis, coverage today noted adjustments to the fair value of IonQ stock following analyst revisions to growth and risk assessments. While not directly tied to Bank of America's primary outlook, these broader market movements reflect the complex and evolving financial landscape that institutions like Bank of America are constantly evaluating.

Sources