Capital Market Outlook
May 1, 2023
IN THIS ISSUE
- Macro Strategy — How Long Do Economic Expansions Last During High Inflation Periods?: The historical data on high inflation periods are consistent with our view that this expansion could be running out of steam.
- Market View — Some Counterfactuals to the Deglobalization Debate: Key metrics of globalization suggest Corporate America is becoming more embedded globally, not less.
- Thought of the Week — Concerns of Failed Bank Auctions Repricing MBS Exaggerated: There have been widespread concerns in the agency mortgage-backed securities (MBS) market due to recent bank failures.
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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 (“BofA Corp.").
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