Capital Market Outlook
March 1, 2021
IN THIS ISSUE
- Macro Strategy — Japanese Equities: Unloved and Under-owned: The V-shaped global expansion, driven by the U.S. and China, is a strong tailwind for potential continued strength.
- Global Market View — “Sell the News": Fourth-Quarter Earnings Review: As we make progress in coronavirus vaccinations and the economy continues to reopen, this can help to drive future earnings growth and additional equity market rotations into cyclical sectors like Financials, Materials, Industrials and Energy.
- Thought of the Week — All Rise? Equities Have Gained Through Recent Episodes Of Rising Rates: Investors are beginning to evaluate whether higher and steeper yields might impede the attractiveness of stocks.
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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