Search ForexCrunch

While sharing the latest research outcomes, an analyst from the Bank of America (BofA) said that the S&P 500 will mark the top of 3,600 between the US presidential election and inauguration day.

As per the report, the analysis takes clues from fiscal stimulus expected in Q4 and a coronavirus (COVID-19) vaccine that fund managers are expecting to arrive in Q1 2021.

Further, the anticipated peak in the US Federal Reserve’s monetary support in 2020, with the expectation of no-repeat, also joins the line of catalysts for the forecast.

Key quotes

We believe the top in asset prices comes between election & inauguration, as a fiscal, vaccine, recovery fully priced-in with SPX>3600, and bond yields on the rise.

Also read: Wall Street Close: Big-tech drives rally on Wall Street