Capital Market Outlook
February 16, 2021
IN THIS ISSUE
- Macro Strategy — Deficits, the Money Supply and Inflation: Part 2: The money supply and fiscal deficit since March 2020 have triggered a powerful reflation trade in financial markets.
- Global Market View — A Tipping Point for Climate Policy?: We would expect clean energy investments to be major beneficiaries over the coming years.
- Thought of the Week — Diverging Paths in Europe: The service and industrial sectors of the euro area may have regional implications for future economic performance within the bloc, in our view.
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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