Capital Market Outlook
January 21, 2020
January 21, 2020
IN THIS ISSUE
- Macro Strategy — Structural Shift in Equity Valuations — A confluence of structural changes in the U.S. economy over the past 70 years has dramatically reduced the incidence of recessions and raised the value of each dollar of corporate earnings.
- Global Market View — Leveraging the Power of the Global Consumer — At nearly 60% of gross domestic product, the global economy rests on the shoulders of the consumer.
- Thought of the Week — Low corporate yields an Achilles’ heel? — Negative corporate bond returns are not a base case, but a potential risk when yields are this low.
Read the full issue here
Important Disclosures
All data, projections and opinions are as of the date of this report 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.
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