Capital Market Outlook
September 27, 2021
IN THIS ISSUE
- Macro Strategy — Supply-Chain Strains Reflect A Rapidly Changing Economy: The speed, scale and scope of the government-led Energy sector transformation suggest more supply discontinuities should not be surprising ahead.
- Global Market View — Investing in an “Everything Expensive" Market: Higher valuations may persist for Equities due to higher-quality, robust margins and lower interest rates.
- Thought of the Week — The Rise of Retail Traders: A new Equity culture is building out in the U.S. and contributing to the current secular bull market.
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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All recommendations must be considered in the context of an individual investor’s goals, time horizon, liquidity needs and risk tolerance. Not all recommendations will be in the best interest of all investors.
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