‘Can't buy bonds, can't sell stocks.' Bank of America tells investors what they can do.

Real 30-year interest rates are at their highest level since November 2008, signaling tight financial conditions. Michael Hartnett advises investors to brace for a “chilly summer,” reflecting elevated risk from restrictive rates and weaker liquidity.

Analysis

Real 30-year interest rates are at their highest level since November 2008, signaling tight financial conditions. Michael Hartnett advises investors to brace for a “chilly summer,” reflecting elevated risk from restrictive rates and weaker liquidity.