As BofA Eyes a Recession, Here’s 1 ETF to Consider

Bank of America’s research team sees a 3,600 year-end target of the S&P 500, which is down from its previous forecast of 4500. They see a 5% drop in the stock market as well as less earnings through the rest of 2022 and next year. Rate hikes will continue to play a factor in more bearishness, and now market experts are eyeing a big rate hike potentially. The Direxion Daily S.P 500 High Beta Bear 3X Shares (HIBS B-) is up about 30% for the year, building off the bearish tone in equities. The fund is up by 300% of the inverse (or the opposite) of the daily performance of the index. . . .