Bank of America strategists flagged Trump's 80th birthday on June 14 as a potential trigger to reduce equity exposure, among other June events.
The bank noted that bull capitulation into stocks and tech may complete within weeks, making early June ripe for taking profits.
Wall Street indexes hit record highs amid AI hype. Trump's birthday appeared alongside OPEC meeting, World Cup start, G7 summit, and Fed meeting.
BofA analysts noted Trump's approval rating on inflation fell to 30%, near Biden-era lows. Extreme politics equals extreme Wall Street price action.
An AI-fueled rally pushed the Philadelphia Semiconductor Index 62% above its 200-day moving average, comparable to Nasdaq at dotcom bubble peak.
U.S. CPI inflation could exceed 5% by November midterms. Historically, once CPI crosses 4%, the S&P 500 drops 4% in 3 months and 7% in 6 months.
