The Book of Great

The historic impact of the coronavirus on the markets and the economy

By Chris Hyzy, Chief Investment Officer, Bank of America Private Bank and Merrill

FOR ALL OF THE UNCERTAINTIES surrounding the early days of the pandemic, one thing seemed clear from the start: The coronavirus had the potential to impact more than just our health. As the magnitude of change became evident, we in the Chief Investment Office focused our resources on helping our clients better understand and navigate these unprecedented times.

Released in installments over the last several months, this body of work, gathered together for the first time in one place for your convenience, provides a unique record of historic events. It provides a look ahead at the forces that will transform the way you might think about and manage investments for years to come. You’ll learn, for example, how U.S. consumers are reshaping entire industries; how the coronavirus has vastly accelerated many global trends; and why the timing of the recovery still depends on getting the pandemic under control.

Though each report considers the pandemic from a different angle, you’ll recognize consistent investment themes and our conviction that, in spite of periodic volatility, we believe the economy will emerge stronger and more vibrant than ever.