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Capital Market Outlook

January 19, 2021


  • Macro Strategy — Growing Evidence of Reflation Success: Inflation is likely to mostly remain contained however upside risks to inflation have increased.
  • Global Market View — Affluent Consumers’ Pent-Up Demand to Drive Spending in 2021: Upside surprises to the level of consumer spending and earnings should continue to support equities into 2021.
  • Thought of the Week — A Variety of Factors Are Manufacturing Bullishness for Industrials: We have become more constructive on the Industrial sector, which may stand poised to benefit.

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