Bank of America’s top global strategist warns of growing bubble risk in the stock market — and shares 3 charts showing the market could be headed for trouble

• Bank of America’s Michael Hartnett predicts a no-landing scenario for the US economy for now.
• But the longer this scenario plays out, the higher recession risks become.
• Signs of trouble ahead include falling small-business optimism and a drop in high-yield bonds.

Michael Hartnett, Bank of America’s top global strategist, thinks a no-landing scenario is the most-likely outcome for the US economy in the months ahead. That means the labor market would remain strong, but inflation would also stay above the Federal Reserve’s long-term goal of 2%.