BofA Global Research Calls 2024 "The Year of the Landing"
NEW YORK, Nov. 27, 2023 /PRNewswire/ -- Few have experienced today's macro uncertainty in their lifetime, and investors have underappreciated and underpriced its impact. The recession that many expected in 2023 never arrived. Inflation rates peaked in the fall of 2022 in many geographies and disinflation continued throughout 2023, despite economies being generally stronger than expected. In their newly released outlook for 2024, BofA Global Research economists and strategists note they expect this disinflation to continue and rate cuts to begin midway through the year from both the Federal Reserve and European Central Bank. Rate hikes seen over the last year and a half should ultimately weaken growth and lead to higher unemployment rates, though our economists are calling for a soft landing rather than a recession.
- In their newly released outlook for 2024, BofA Global Research economists and strategists note they expect this disinflation to continue and rate cuts to begin midway through the year from both the Federal Reserve and European Central Bank.
- "We expect 2024 to be the year when central banks can successfully orchestrate a soft landing, though recognize that downside risks may outnumber the upside ones."
- The 3Ps = the 3Bs: Chief Investment Strategist Michael Hartnett thinks the bull markets of 2024 will be the "3Bs"... Bonds, Bullion & Breadth.
- The BofA Global Research franchise covers more than 3,500 stocks and 1,250 credits globally and ranks in the top tier in many external surveys.