Peak growth has likely passed warns Bank of America

It comes as the analysts warned that peak growth may have already passed, following an astonishing recovery from the Covid-19 pandemic. They said: "We note that outside of the periods following 1980 and 2001, risk assets have performed in the first two years following troughs in US GDP, posting positive information ratios for equities, credit, and commodities. "More interestingly, while we are only a little over a year into the current recovery, risk-adjusted returns for equities and commodities, and yield changes for credit are already well above those in any of the previous episodes...