Bank of America Merrill Lynch said that global oil market rebalancing was under way and that prices could soon jump above $50 a barrel if a deal to freeze production results from a meeting in Doha this weekend.
With global oil supply running 1.4 million barrels per day above global demand in the first half of 2015, inventory dynamics will continue to deteriorate, leading to Brent trading below $40 per barrel over the next two months, a report said.
Global nominal GDP is likely to contract by about $2.3 trillion in 2015 as a consequence of the US dollar strengthening, heralding far reaching implications across markets, principally for commodity prices, a report said.
Global investors have a restored appetite for risk amid greater optimism over the outlook for profits and the economy, according to the BofA Merrill Lynch Fund Manager Survey for November.
A net 47 per cent of the global panel exp
Investor confidence in global economic growth remains high even as expectations of higher short-term rates increase, a report said.
The number of investors believing the global economy will grow over the next 12 months was steady
Qatar Holding has built small stakes in Bank of America and Samsung Electronics , two sources familiar with the matter said, as the wealth fund continues on its strategy of picking minority stakes in large global companies.
The possibility of a short-term Nato-led military strike on Syria has intensified concerns over security of oil supply and could cause a spike in range of $120-$130 per barrel, according to a report released by BofA Merrill Lynch.
Qatar Holding, the investment arm of the Gulf state's sovereign wealth fund, has hired former Bank of America Merrill Lynch employee Michael Cho to take a senior role in its mergers and acquisitions (M&A) team.
Cho, who wa