BofA Merrill Lynch Global Investment Strategy, IFR, Bloomberg
Note: growth interpolated 1974-1982, 1984-1990, 1991-1994, 1996-1999.
From BofA Merrill Lynch chief investment strategist Michael Hartnett's latest note to clients:
"The rise in the use of industrial robots and the decline in the number of manufacturing jobs for human beings (Chart 1, front page) remind us of the technology theme. BofAML's tech analysts favor innovative hardware, the socially mobile consumer and cloud collaboration as their big 2014 themes. We are long tech but wary of the close correlation between internet stocks and central bank liquidity."