U.S. national debt projected to reach $40 trillion milestone
Bank of America strategists project the U.S. national debt will hit $40 trillion soon and reach $50 trillion by 2029, influencing asset preferences toward stocks over bonds.
- Bank of America chief equity strategist Michael Hartnett projects the $40 trillion debt milestone soon.
- The debt is expected to hit $50 trillion by 2029, shifting some investor preference toward stocks.