Market Updates
March 1, 2021
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.
February 22, 2021
Views about the inflation outlook have started to diverge widely. The time might be right for companies to normalize or increase the usages of their cash. We continue to be overweight both the Technology and Healthcare sectors, which include many leaders in research and development.
February 16, 2021
Deficits, the Money Supply and Inflation: Part 2. A Tipping Point for Climate Policy? Diverging Paths in Europe.
February 8, 2021
The unprecedented growth in the money supply and the fiscal deficit since March 2020 have naturally raised concerns. A bundle of dynamics supports America's economic expansion and underpins the current bull market. Near-term sentiment risk appears balanced with medium-term upside in earnings.
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.
