BofA Says S&P 500 Real Earnings Yield is Lowest Since Harry Truman Was President

Bloomberg2021-12-09

(Bloomberg) -- The real earnings yield on U.S. stocks hasn’t been so low since Harry Truman was president and the Cold War was just starting, according to Bank of America Corp. strategists. The S&P ...

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Victorhc88
2021-12-09
Victorhc88
Like pls
- xiaojn:
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Simplewind
2021-12-09
Simplewind
Pls like. Thanks

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Expectations that inflation will moderate from 6.2% to 2.5% over the next 12 months may prove too optimistic, as that would imply the sharpest drop in four decades, they said.\nBofA has been persistently bearish in its outlook for U.S. and European stocks, even as the main benchmark gauges on both sides of the Atlantic hit successive record highs in recent months. After a brief slump triggered by the spread of the omicron variant of the coronavirus, the S&P 500 has bounced back and is hovering near record highs.\n“Negative real earnings yield portends downside risks,” the strategists said, as it undermines the so-called TINA argument that there is no alternative to equities for investors.\nAccording to BofA, the previous four instances of negative real earnings yield were the post-World War II bear market, the stagflation era of the 1970s, the 1980s “Volcker shock” period when the Federal Reserve raised interest rates aggressively to tame inflation, and the 2000 tech bubble.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":602248070,"gmtCreate":1639033567591,"gmtModify":1639033568024,"author":{"id":"3582248650466523","authorId":"3582248650466523","authorIdStr":"3582248650466523","name":"Victorhc88","avatar":"https://static.tigerbbs.com/d72a1d9498132424b1eddb4db3c77265","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582248650466523"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/602248070","repostId":1173558917,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6911378,"gmtCreate":1639035596676,"gmtModify":1639035596707,"authorId":3554893275482082,"author":{"id":3554893275482082,"authorId":3554893275482082,"name":"xiaojn","avatar":"https://static.tigerbbs.com/1d013f63de4e09aaf06a8ae8cf90aeb8","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":602248070,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"CN"},{"id":602243857,"gmtCreate":1639033123144,"gmtModify":1639033123436,"author":{"id":"3572867658695568","authorId":"3572867658695568","authorIdStr":"3572867658695568","name":"Simplewind","avatar":"https://static.tigerbbs.com/5cec05c297ad50a1f25f590f1266e874","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572867658695568"},"htmlText":"Pls like. Thanks","listText":"Pls like. Thanks","text":"Pls like. 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