Capital Market Outlook
January 27, 2020
IN THIS ISSUE
- Macro Strategy—2020 Outlook for U.S. Business Investment Spending — We think business investment spending could grow at a low-to-mid single digit pace in the U.S. in 2020 despite headwinds from the retail, energy and air transportation sectors.
- Global Market View—America: An Economic Silverback in a Jungle of a World — It’s a jungle out there, in other words, giving fright to investors. Yet in the hierarchy of the jungle, investors must not forget that the U.S. is an economic silverback.
- Thought of the Week—At a Golden Crossroads — Gold is at a technical crossroads, in our view. While a trifecta of bullish catalysts has reduced demand for the yellow metal, we see long-term reasons to maintain a position in this portfolio diversifier.
The opinions are those of the author(s) and subject to change.
This material was prepared by the Chief Investment Office (CIO) and is not a publication of BofA Global Research. The views expressed are those of the CIO only and are subject to change. This information should not be construed as investment advice. It is presented for information purposes only and is not intended to be either a specific offer by any Merrill or Bank of America entity to sell or provide, or a specific invitation for a consumer to apply for, any particular retail financial product or service that may be available.
Global Wealth & Investment Management (GWIM) is a division of Bank of America Corporation. The Chief Investment Office, which provides investment strategies, due diligence, portfolio construction guidance and wealth management solutions for GWIM clients, is part of the Investment Solutions Group (ISG) of GWIM.
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Asset allocation, diversification, dollar cost averaging and rebalancing do not ensure a profit or protect against loss in declining markets. Dollar cost averaging involves continual investment in securities regardless of fluctuating price levels; you should consider your willingness to continue purchasing during periods of high or low price levels.
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