Capital Market Outlook
June 7, 2021
IN THIS ISSUE
- Macro Strategy — Keep on Keeping On Until Pent-up Demand Is Gone: Coincident and leading indicators of U.S. business investment spending remain positive heading into the back half of the year, but pent-up demand will quickly evaporate at this pace of growth.
- Global Market View — The Global Baby Bust and Market Implications: The world is in the midst of a dramatic demographic shift by means of assimilating immigrants and boosting the female labor force participation rate.
- Thought of the Week — European Yields Are Turning Positive: There are growing signs that yields continue to move higher as the economic outlook for Europe improves.
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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