<h2>The Market Isn’t Pricing in an All-Clear on the Economy</h2>
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<p>Many analysts have spent the past few weeks advising investors to buy the dips and pointing to unprecedented levels of fiscal and monetary stimulus, among other things, as reasons to be bullish on stocks.
Not BofA head of equity research Savita Subramanian. On a mid-year outlook briefing webinar, Subramanian explained that her year-end target for the S&P 500 SPX, +0.78% is 2900: an 8% decline from current levels. She offered one bull case for stocks — that they’ve rarely been so attractive, relative to bonds — but also noted a litany of headwinds.
“I wouldn’t paint myself as a bear but the risks between here and year end are completely to the downside,” Subramanian said. “We’ve had a reopening frenzy and now we’re seeing payback.”
What are the headwinds? Read more…………..
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Jeff Saut, chief investment strategist at Capital Wealth Planning, joins “Squawk Box” to discuss why he’s bullish on the markets despite the spike in Covid-19 cases in the southern United States.
