Capital Market Outlook
May 24, 2021
IN THIS ISSUE
- Macro Strategy — Arming Portfolios for the Inflation Rotation: As inflation expectations continue to heat up, portfolio positioning will be key for investors.
- Global Market View — “Cashing In" On the Global Consumer Recovery: The consumption boom is about to go global, positioning likely future earnings upside for such sectors as Consumer Discretionary, Technology and various cyclical plays.
- Thought of the Week — “Transitory" Is A Relative Term: Ultra-aggressive Federal Reserve (Fed) efforts to re-anchor inflation expectations at a higher level than prevailed before the pandemic have started to show results.
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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