(April 10): Investors should flock into commodities for the next few years as they benefit from global geopolitical and macroeconomic turmoil, according to Bank of America’s Michael Hartnett. Stocks would be replaced by commodities as the biggest winners of the “anything but bonds” trade for the rest of the 2020s as investors seek protection against risk, inflation and a weaker dollar, the strategist wrote. The fundamental winners in the latter half of the decade would be led by commodities over the dollar, and international and small cap stocks over US and large caps, according to Hartnett. Geopolitics was being driven by the “need to monopolise commodities,” he said. Equities have seen US$275 billion (RM1.1 trillon) of inflows year to date, a trend Hartnett sees continuing except in the case of a major policy failure like a dollar or bond collapse, or a major credit event.

Source: The Edge Markets April 10, 2026 11:27 UTC