Capital Market Outlook
May 3, 2021
IN THIS ISSUE
- Macro Strategy — Fed Not Ready To Spoil the Party: The steepening yield curve shows that the zero-rate Federal Reserve (Fed) policy has become increasingly accommodative for the improving growth and inflation outlook.
- Global Market View — The U.S. as the World's Earnings Locomotive: A robust U.S. economy is not only considered a seismic tailwind for U.S. corporate earnings but also represents a powerful blast to global earnings.
- Thought of the Week — A Health Checkup For Zombies: The share of zombies may be in remission amidst a favorable macro backdrop.
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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