Capital Market Outlook

August 31, 2020

IN THIS ISSUE

Macro Strategy —Anchors Aweigh — What does it mean that the Federal Reserve is doubling down on their 2% inflation target and what are key takeaways for investors?
Global Market View — Election 2020 in Pictures — We've pointed to key exhibits (pictures) that speak volumes about markets and presidential elections.
Thought of the Week — Taking Stock of the Coronavirus Demand Shock — Second quarter gross domestic product results have now been released for most major countries around the world. The data confirm an expected trend.

Important Disclosures

All data, projections and opinions are as of the date of this 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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