Donya Hengehold, Bank of America, 1.314.466.3928
donya.hengehold@bankofamerica.com
NEW YORK / ST. LOUIS — "U.S. Economic Projections" report
for the week of August 23, 2004:
Gearing up for a new school year
Current Market Focus
Most of the indicators released during the past week suggest that the
economy is breaking free from its summer doldrums.
The Week Ahead
Anticipate a healthy gain of around 1.0% in durable goods orders for July
to indicate solid support for the industrial sector.
The Stock Market
Some easing in the risk premium on oil prices could give the stock market
a significant lift.
The Bond Market
With underlying inflation still relatively benign, the Federal Reserve
should be able to retain its strategy of boosting the federal funds target
in a gradual fashion.
The information and data provided in this analysis are derived from
sources that we deem to be reliable and accurate. The opinions expressed
here are strictly those of Banc of America Capital Management and are
subject to change without notice. Banc of America Capital Management is
the primary investment management division of Bank of America Corporation.
Banc of America Capital Management entities advise institutional and
mutual fund portfolios and furnish investment management services to
high-net-worth clients of Bank of America.