Market Updates
November 9, 2020
Leading indicators and rising global momentum point to stronger growth ahead; owing to the pandemic and U.S.-Sino geopolitical tensions, the state now controls the “commanding heights" of the economy, and China's Fifth Plenum communiqués stress quality, self-reliance, leadership.
November 2, 2020
The housing boom leads the recovery, we attempt to explore the dualism that exists within key fundamentals that should ultimately dictate where asset prices are a year from now, and global growth and global earnings are inextricably tied to emerging market consumer demand, notably demand from China.
October 26, 2020
The Fed may welcome an inflationary shock over the next few years; we believe investors should think long-term and opportunistically leverage market pullbacks in the weeks ahead on Cybersecurity, Healthtech, Infrastructure and Platform economy (C.H.I.Ps); light at the end of the tunnel for earnings and valuations?
October 19, 2020
A Federal Reserve survey shows progress on income inequality; America is on the cusp of a political Year 2000 (Y2K) moment, portending more near-term volatility, and can coronavirus halt the urbanization megatrend?
October 13, 2020
The labor market recovery continues but pandemic headwinds persist; we observe ongoing economic developments in Brazil and Mexico, which may offer opportunities for investors over the longer term, and investors should consider what the U.S. business cycle expansion means for investment strategy.
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.
Bank of America, Merrill, their affiliates, and advisors do not provide legal, tax, or accounting advice. Clients should consult their legal and/or tax advisors before making any financial decisions.
Investing involves risk, including the possible loss of principal. Past performace is no guarantee of future results.
All recommendations must be considered in the context of an individual investor’s goals, time horizon, liquidity needs and risk tolerance. Not all recommendations will be in the best interest of all investors.
Investments have varying degrees of risk. Some of the risks involved with equity securities include the possibility that the value of the stocks may fluctuate in response to events specific to the companies or markets, as well as economic, political or social events in the U.S. or abroad. Bonds are subject to interest rate, inflation and credit risks. Treasury bills are less volatile than longer-term fixed income securities and are guaranteed as to timely payment of principal and interest by the U.S. government. Investments in foreign securities (including ADRs) involve special risks, including foreign currency risk and the possibility of substantial volatility due to adverse political, economic or other developments. These risks are magnified for investments made in emerging markets. Investments in a certain industry or sector may pose additional risk due to lack of diversification and sector concentration.
