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Modest market returns in 2021 risk disappointing today s overexcited investors, Bank of America says
Ben WinckDec 13, 2020, 01:31 IST
JOHANNES EISELE/AFP/Getty Images
Vaccine distribution and healthy economic growth might not yield the market returns investors are clamoring for next year, Bank of America said in a note.
The bank s Research Investment Committee expects the US to lag the global economy in 2021 growth and for
markets to post modest gains amid the weak recovery.
The disappointing forecast has strategists suspicious of an increasingly exuberant market, the bank said.
Vaccination, stimulus rollout, and market rallies will lead Congress to tighten fiscal conditions and hamper a prolonged rally for risky assets and broad indexes, the firm added.