Capital Market Outlook
February 1, 2021
IN THIS ISSUE
- Macro Strategy — What We Learned Last Week: Positive macroeconomic data released last week broadly support our overweight to equities and our cyclical, reflationary tilt within U.S. equities.
- Global Market View — Measuring Coronavirus Influence on Demographics: The U.S demographic profile has shifted since the pandemic.
- Thought of the Week — Can Financials Flash Their Own FANGs?: With a reflationary macro backdrop and corporate profit estimates currently increasing, this uptrend may have legs to run.
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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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.
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