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Investment Strategy Overview

The Chief Investment Office (CIO) outlook on the economy, the markets, investment trends, portfolio considerations and asset-class weightings.

Close up illustration of a stock market financial growth chart.

The Great Pivot

The Chief Investment Office sees recent whispers by Federal Reserve officials as early stages of another great pivot on the part of the central bank, with the yield curve, especially long-term yields and the dollar, potentially providing clues to its timing.

“As the U.S. corporate earnings base surprises to the upside, as we expect, equity valuations should become more fairly valued, setting up another move higher in the broad indices in the next nine to 12 months. This is not expected to be a smooth straight line without uncertainty."

Christopher Hyzy Chief Investment Officer, Merrill and Bank of America Private Bank