Serenity slams US Bank: Flawed predictions trigger retail panic, acting like a "contrarian indicator"

Odaily Odaily reports that Serenity criticized certain market views from Bank of America on X platform, stating its performance resembles a "malicious version of Bernstein/Jim Cramer" that could mislead retail investors. According to reports, Bank of America claimed the Korea Composite Stock Price Index (KOSPI) and the Korean ETF (EWY) were in an "extreme bubble" state, comparing it to the March silver crash, leading some retail investors to sell their holdings. However, the South Korean stock index subsequently continued to rise, nearly doubling and hitting record highs.

Serenity added that Bank of America recently also put forward the view of "expecting 3 rate cuts in 2026," which significantly deviates from derivatives market pricing, with the market currently viewing the probability of this scenario as close to 0%. Such predictions could trigger retail panic while contradicting the previous stance of the Trump administration to push for rate cuts. As a major American bank, issuing such "junk predictions" and disseminating them to retail investors is a harmful act.