U.S. Trust Introduces Its 2013 Outlook; “The Big Fix” Begins
U.S. Trust today released its 2013 market outlook, saying while
aggressive monetary policy has been the most important catalyst for
stabilization and rising asset prices in the past few years, fiscal
policy transparency will take the lead in 2013. Combined with a
continued easing monetary policy and improving economies both in the
U.S. and abroad, this new fiscal policy transparency should help to
spark a long-awaited reallocation of capital for both businesses and
investors.
“We believe the defining feature of financial markets in 2013 all around
the globe will be a transition from this monetary policy-based ‘great
experiment’ into a more business-directed and fiscally transparent
period we’re calling ‘The Big Fix,’” said Chris Hyzy, chief investment
officer at U.S. Trust. “The Big Fix is based on a recovering housing
market, continued strong corporate profits, increased transparency in
fiscal policy and, towards the second half of 2013, a rise in capital
expenditures by corporations.”
Hyzy established a 2013 target for the S&P Index of 1600 on November 20,
2012, with a price-to-earnings multiple of 14.5 times to 15.0 times and
$108 per share in profit.
The launch of the 2013 outlook features online content available at www.ustrust.com/outlook
that offers the latest insights from U.S. Trust on key topics such as
emerging markets, global investment themes, taxes and implications for
investment portfolios.
“Given current and expected fiscal policy changes, managing for
after-tax returns will be more important than ever for many investors,”
said Keith Banks, president at U.S. Trust. “Our client teams include a
portfolio manager, trust officer, private client advisor and a wealth
strategist as appropriate who work together to customize solutions for
our clients. They have tremendous flexibility to address each client’s
particular concerns - from maximizing investment opportunities to
managing family wealth - always in light of our firm’s most current and
best thinking.”
U.S. Trust
U.S. Trust, Bank of America Private Wealth Management is a leading
private wealth management organization providing vast resources and
customized solutions to help meet clients' wealth structuring,
investment management, banking and credit needs. Clients are served by
teams of experienced advisors offering a range of financial services,
including investment management, financial and succession planning,
philanthropic and specialty asset management, family office services,
custom credit solutions, financial administration and family trust
stewardship.
U.S. Trust is part of the Global Wealth and Investment Management unit
of Bank of America, N.A., which is a global leader in wealth management,
private banking and retail brokerage. U.S. Trust employs more than 4,000
professionals and maintains 140 offices in 32 states.
As part of Bank of America, U.S. Trust can provide access to a broad
range of banking solutions for individuals and businesses, and an
extensive retail banking platform.
Bank of America
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serving individual consumers, small- and middle-market businesses and
large corporations with a full range of banking, investing, asset
management and other financial and risk management products and
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States, serving more than 55 million consumer and small business
relationships with approximately 5,500 retail banking offices and
approximately 16,300 ATMs and award-winning online banking with 30
million active users. Bank of America is among the world's leading
wealth management companies and is a global leader in corporate and
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serving corporations, governments, institutions and individuals around
the world. Bank of America offers industry-leading support to more than
3 million small business owners through a suite of innovative,
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through operations in more than 40 countries. Bank of America
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Average and is listed on the New York Stock Exchange.
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U.S. Trust operates through Bank of America, N.A., and other
subsidiaries of Bank of America Corporation.
Bank of America, N.A., Member FDIC.
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