Mon, Sep 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BofA Merrill Lynch calls for stronger U.S.-led economic growth in 2014

Wednesday, December 11, 2013

Komfie Manalo, Opalesque Asia:

BofA Merrill Lynch Global Research has called for a stronger U.S.-led economic growth in 2014 as well as higher yields and solid U.S. stock gains that are lower than in 2013 but higher than consensus.

At the annual BofA Merrill Lynch Year Ahead outlook, BofA also warned that a rising U.S. dollar and rising rates, including rising rate volatility, will have consequences for markets around the world as credit cycles diverge. "In 2013, we saw the 30-year bull market in bonds wind down and stocks soar, with a stronger recovery since 2009 than in the last five market cycles," said Candace Browning, head of BofA Merrill Lynch Global Research. "As we move into 2014, we expect this trend to moderate but continue forward even with Federal Reserve tapering mid-year." The BofA Merrill Lynch Global Research team made the following 10 macro calls for the year ahead:

  • The Standard and Poor’s 500 Index is expected to rise to 2000 and the MSCI All-Country World Index to reach 444 by year-end. Gains in the year ahead imply a price return of approximately 11%, with modest earnings growth of 7%, driven by higher sales and additional buybacks.
  • U.S. and global economic GDP growth is expected to accelerate in 2014, to 2.6% and 3.5%, respectively. The U.S. economy is expected to expand in t......................

    To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali