BofA Raises S&P Target. Inflows To US Equities Continue

You didn't need to be a gifted tasseographer to read between the lines last week when BofA's Savita Subramanian called US equities "egregiously expensive" but nevertheless said investors shouldn't fret because in a "good case" scenario, the S&P could hit 5,500: Her price target for the world's benchmark risk asset par excellence was going higher. And imminently. Sure enough, Subramanian's year-end projection is now 5,400. "The revised target acknowledges the mix shift of the S&P and sur