Capital Market Outlook
November 7, 2022
IN THIS ISSUE
- Macro Strategy — Data Still Mixed, But With A Negative Tilt: Interest rate hike commentary and the preponderance of incoming data continue to indicate a rapidly cooling economy leading into an eventual inflation- and Federal Reserve-induced recession.
- Global Market View — The Consumer Is Still Strong, But Headwinds Are Building: Key supports are weakening as factors that are favorable for the consumer are being overshadowed by factors that call for getting cautious.
- Thought of the Week — The Great Wall Of Pain If China “Closes": Should China separate from the rest of the world, the consequences would be much greater than Russia's divorce from the mainstream global economy.
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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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