So far, the US economy has staved off a recession, but Wall Street remains mixed on its outlook for the year ahead. Bank of America, for its part, does not include a recession in its near-term base case, but the head of CIO market strategy for Merrill and BofA Private Bank, Joseph P. Quinlan, said studying historical trends can help inform positioning and outlooks for investors.
In an October note, he broke down what to know ahead of a potential slowdown.
First, Quinlan pointed out that recessions are indeed commonplace, and part of a dynamic American business cycle.
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