Strategist predicts ‘low single digit price returns through 2034′ for U.S. stocks

Earlier this week, BofA Securities U.S. equity and quant strategist Savita Subramanian dampened investor enthusiasm for the immediate and longer term,

“Since 1936, 5% or greater declines in the S&P 500 index have occurred three times per year on average, 10%+ corrections have occurred once per year on average. We are thus overdue for a pullback. We also find ourselves heading into August and September, a period accompanied by seasonally weak S&P 500 returns. With the US election in November, we note that prior presidential election years have seen the VIX increase by about 25% from July to November … Easy index gains may be in.

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