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Capital Market Outlook
Your resource for the latest thinking from our experts on the markets and economy in the coming year and beyond
Reflation Tailwinds Also Give Boost To Oil Prices
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A high correlation with inflation favors energy stocks as potential defense against the declining value of money. The geopolitics of U.S.-China relations remain key to market expectations and returns. American Exceptionalism, with a Caveat. |
The Market Balance Sheet
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In our view a clear-eyed understanding of the bull and the bear cases may aid key portfolio decisions. After the Suez Saga: Implications for a Globalized Economic System. What Divergent Transatlantic Growth Means for U.S. Investors. |
Helicopter Money Delivers Escape Velocity
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If nominal growth continues to move higher, zero interest rates could become more stimulative and inconsistent with well-anchored inflation expectations. We’ve drafted our four picks we suspect will likely provide support to markets and the economy over the year. Renewables have the power for a comeback. |
Dollar Trends For Investors To Watch
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The dollar has near-term support but the fiscal debt binge raises some concerns in the absence of fiscal discipline for the longer-term. April 2022: A glimpse of the post-pandemic world. Value’s Comeback Story. |
Too Much Of A Good Thing?
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The sharp rise in long-term interest rates has caused the S&P 500 index rally to pause while portfolios position for a higher growth and inflation outlook. How markets have moved since the start of the coronavirus outbreak. Is Bond/stock correlation unlikely to remain positive on a long-term basis? |
Rising Millennials Should Keep The Secular Bull Running
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Despite long-term demographic challenges, the rising millennial generation should support economic growth and inflation. The coming super-cycle in infrastructure spending. Integrating a gender mandate into investments is more timely than ever. |
Japanese Equities: Unloved and Under-owned
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Japanese Equities: Unloved and Under-owned. “Sell the News": Fourth-Quarter Earnings Review. And investors are beginning to evaluate whether higher and steeper yields might impede the attractiveness of stocks. |
Important Disclosures
All data, projections and opinions are as of the date of the report and subject to change.
The Chief Investment Office (CIO) provides thought leadership on wealth management, investment strategy and global markets; portfolio management solutions; due diligence; and solutions oversight and data analytics. CIO viewpoints are developed for Bank of America Private Bank, a division of Bank of America, N.A., (“Bank of America") and Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S" or “Merrill"), a registered broker-dealer, registered investment adviser and a wholly owned subsidiary of Bank of America Corporation.
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