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Bank of America strategist: US stocks and Crypto Assets are forming bubbles
On December 6, Jinshi Data reported that the strong rebound of US stocks and cryptocurrencies makes these asset classes appear to have bubbles. According to data compiled by institutions, the price-to-book ratio of the S&P 500 Index is expected to rise to 5.3 times by 2024, close to the peak of 5.5 times reached during the March 2000 technology bubble. Hartnett said that if the S&P 500 Index approaches 6666 points, about 10% higher than the current level, there is a high risk of being “overbought” in early 2025. The bank’s bull and bear market indicator has not yet shown signs of prosperity for global investors.