S&P 500 may drop below 2500

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  Business

  Bloomberg•20 hours ago

  SocGen Cuts Stock Allocation, Says S&P 500 May Drop Below 2,500

  A boost from tax cuts kept stocks resilient as yields rose initially, but now that the U.S. 10-year Treasury yield has been above 3 percent since September it’s starting to affect equities, SocGen strategists led by Alain Bokobza wrote in a note Wednesday. “From an asset-allocation perspective, it is time to lower allocation to equity,” the strategists wrote. The equity risk premium is now at 3 percent, compared with 2.7 percent in August, while bond yields have risen 10 basis points over the same period, the report said.

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