Investors are downplaying effects of trade wars under Trump, says BofA

Bank of America (BofA) strategists are sounding alarms that investors are brushing off the brutal economic impact a trade war under Donald Trump could unleash. The outlook? Grim. Emerging-market (EM) currencies are expected to nosedive by 5% in the first half of 2025. Sovereign debt? Prepare for a fire sale. Leading the charge is David