Global Research Unlocked

This week on Signals & Noise, Mark Cabana, co-head of Global Rates Strategy, breaks down the highly anticipated July FOMC meeting, explaining why markets face unusual uncertainty over the Fed's next move. He discusses the case for both holding rates steady and raising them and examines what a surprise hike could mean for Treasury yields, inflation expectations, and financial markets.   "Bank o...

This week on Must Read Research, we look back at prior semiconductor selloffs for clues on what may come next and revisit our recent Transforming World Conference for an understanding of the breakthroughs and challenges AI may create tomorrow. Power remains a key constraint for the technology, creating opportunities for traditional oil & gas companies.  We also look at emerging market debt whe...

As AI enthusiasm drives markets to new highs, investors are increasingly asking whether the boom has become a bubble. In this episode of Signals & Noise, Ben Bowler and Arjun Goyal explore why today's AI-driven market shares many of the characteristics of past technological booms while arguing that the current cycle may still have room to run. They discuss BofA's proprietary Bubble Risk Indica...

Please join Mark Cabana for a discussion with credit strategist Yuri Seliger & rates strategist Meghan Swiber. Yuri will discuss the outlook for hyerscaler issuance & IG outlook, Meghan will place in context of broader rates. The call took place on Friday, July 24, 2026 at 9 AM EDT, 2 PM BST, 3 PM CEST.   "Bank of America" and “BofA Securities” are the marketing names for the global bankin...

In this episode of Signals and Noise, Aditya Bhave, Head of US Economic Research at BofA Securities, lays out the case for three 25bp Fed rate hikes in September, October, and December. He explains why current policy appears too accommodative given the combination of steady labor markets and elevated core inflation, and why recent softness in CPI data has not changed our view. Aditya also addresse...

In this episode of Must Read Research on Global Research Unlocked, T.J. Thornton steps in for Candace Browning to explore several of the themes heating up markets this summer. We recap a strong start to earnings season, where broad-based growth is extending beyond AI and early results are running ahead of historical averages. We also examine the debate surrounding Netflix's engagement trends as in...

Please join Ralf Preusser in conversation with Sphia Salim, Meghan Swiber and Shusuke Yamada. We will discuss potential implications of a hypothetical change in Japan's GPIF asset allocation both for Japan and G10 more broadly. We will also preview next week's ECB meeting and discuss how the Fed's reaction function may have changed with this week's US data.   "Bank of America" and “BofA Securities...

Our guest speaker is Gary Neville, former professional footballer, entrepreneur, broadcaster and business leader and who is one of the most influential voices across soccer and media. Since retiring from playing, he has built a broad portfolio spanning broadcasting, property, education and club ownership, including co-ownership of Salford City FC. Through his work, Gary is committed to expanding a...

Our guest speaker is Gary Neville, former professional footballer, entrepreneur, broadcaster and business leader and who is one of the most influential voices across soccer and media. Since retiring from playing, he has built a broad portfolio spanning broadcasting, property, education and club ownership, including co-ownership of Salford City FC. Through his work, Gary is committed to expanding a...

U.S. consumers showed remarkable resilience in June, with spending growth reaching its strongest pace in four years. But what's driving the surge, and can it last? In this episode of Global Research Unlocked, T.J. Thornton speaks with David Tinsley, Senior Economist at the Bank of America Institute, about the latest Consumer Checkpoint data. They unpack the factors behind June's spending accelerat...

Convergence of brokers, betting and prediction markets Prediction markets (PMs) have exploded in popularity over the past year, with volumes doubling since the start of May. By some measures, prediction markets are already approaching the scale of online sports betting. Julie Hoover from the Gaming, Lodging & Leisure team joins the podcast to discuss what's driving this growth and categories o...

EM resilience tested by Fed, fueled by long-term flows Emerging market equities have more than doubled the S&P 500's return year-to-date, and have held up well despite rising Fed hike expectations and a stronger US dollar. In this episode, David Hauner explains why he remains structurally bullish on EM despite our Economic team’s expectations for three Fed hikes later this year. David discusse...

In this episode of Must Read Research on Global Research Unlocked, Candace Browning explores a broadening opportunity set across markets and industries. We examine the rapid expansion of the space economy and how advances in launch and satellite infrastructure are reshaping connectivity and computing. We also look beyond the U.S. and China for the next wave of AI beneficiaries, highlighting the co...

Please join our US economist and rates strategists for their weekly rates call to cover (1) commodity risks for global rates & curves and (2) US CPI preview & US inflation pricing implications. The call will took place on Friday, July 10, 2026 at 9 AM ET, 2 PM BST,3 PM CEST.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global marke...

Please join Ralf Preusser in conversation with Aditya Bhave, Mark Cabana and Alex Cohen post-payrolls. Since Fed Chair Warsh is trying to move away from forward guidance, the importance of US data will only increase. We will discuss the outlook for the Fed, US rates and the USD in light of the US labor market data.   "Bank of America" and “BofA Securities” are the marketing names for the global ba...

In this episode of Signal vs. Noise, Savita Subramanian, Head of U.S. Equity & Quantitative Strategy, reviews a surprising first half of 2026 and explains why she believes investors should look beyond the Magnificent Seven. With earnings growth exceeding expectations, inflation reaccelerating, and Fed rate hikes back on the table, Savita argues that the next winners could be large-cap value an...

In this episode of Must Read Research, we explore what happens when “too much of a good thing” begins to reshape markets. From a more hawkish Fed outlook to rotation beneath the surface of equities, shifting AI demand dynamics, and an intensifying battle in prediction markets. We break down the trends investors need to watch next.   "Bank of America" and “BofA Securities” are the marketing names f...

In this episode of Signals & Noise, we unpack the latest midyear updates to global economic forecasts, including a modest upgrade to global growth and a downward revision to inflation. Despite easing headline inflation, policy remains tight, with our economists now expecting a more hawkish Federal Reserve than consensus. We explore the drivers behind this shift, including resilient labor marke...

Please join Ralf Preusser in conversation with Mark Cabana and Adarsh Sinha to discuss the outlook for G10 rates and FX. We will discuss implications of the new Fed call, updated rates and FX forecasts and the main themes we see drive markets away from the Fed. You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting yo...

As the United States approaches its 250th Independence Day, Derek Harris, Head of Global Wealth Management Portfolio and Investment Strategy speaks with Jared Woodard, Head of the Research Investment Committee to examine the long-run forces behind America’s market leadership. Using data that spans much of the nation’s financial history, they explore why U.S. equities have delivered nearly 10 perce...

We recap the June FOMC meeting with our US economists and rates / FX strategists. We offer our views on the hawkish messaging and how to position across rates & FX.     You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.   "Bank of America" and “BofA Securities” are the marketing n...

Please join Mark Cabana in a discussion with Jill Carey Hall, Aditya Bhave, and Oliver Levingston as they break down key market dynamics, equity risks, and central bank outlooks. Gain expert insights and actionable perspectives on equities, rates, and macroeconomic trends   You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends...

Welcome to Signals and Noise, where BofA Global Research strategists from around the globe offer a shorter take on market matters as part of Global Research Unlocked. Today, we focus on the best performing size segment of the US equity market this year, US small and mid-caps, and how we're thinking about them today.   You may also enjoy listening to the Merrill Perspectives podcast, featuring conv...

This week we pause to check a scoreboard flashing stretched positioning, analyze how AI infrastructure is quietly creating unlikely winners, highlight an Underdog taking on the big guys, and get field updates on a housing market still playing defense against affordability constraints   You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, new...

Please join Sphia Salim in discussion with our US economists, rates and FX strategists to review the US payroll report. The US labor market remains central to the outlook for US monetary policy, especially ahead of the first FOMC meeting under the new Chair, and therefore also a key driver for US rates and the dollar.   You may also enjoy listening to the Merrill Perspectives podcast, featuring co...