Sky-High S&P 500 Signals ‘New Normal,’ Not Bubble, BofA Says
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS stocks are screamingly expensive when viewed from a historical perspective. But dig into the details, and the sky-high valuations may well be warranted, say strategists at Bank of America Corp.
The S&P 500 Index is trading at statistically rich levels based on 19 of 20 in-house metrics tracked by BofA, with four hitting all-time highs, a team led by Savita Subramanian said Wednesday in a note to clients.