After last week's "quiz show" note, we had expected that BofA's CIO Michael Hartnett would call it a year, but to our surprise we actually had quite a bit to say in his latest Flow Show (available to pro subscribers), Hartnett looks at the "Biggest Picture" as the year grinds to a close to find some surprises, starting with Argentina - which it may come as a shock to some is the world’s best performing stock market - and which is on track for super-rare budget surplus in '24...
... as Milei engineers radical turnaround from 9% deficit in Q4'23; meanwhile back in the USA, government spending is exploding in the other direction and as we noted last week, is up 11% YoY to $7tn...
