Bank of America's top stock strategist says risks are 'skewed to the downside' for 2021

View of the New York Stock Exchange at Wall Street on Nov. 16, 2020 in New York City.
Angela Weiss | AFP | Getty Images

(This story is for CNBC Pro subscribers only).

Bank of America's top equity strategist defended her cautious view on the stock market for next year on Tuesday, saying that the benefits of an economic recovery are largely priced in to stocks

Savita Subramanian, the bank's head of U.S. equity and quantitative strategy, said on CNBC's "Squawk Box" that the risks to the market are "skewed to the downside."

More In CNBC TV Picks

CNBC ProTom Lee says hot IPOs may be a sign retail investors are coming back to stocks
CNBC ProOakmark’s Bill Nygren says these two stocks offer hidden value for investors
CNBC ProCramer says Zoom is here to stay and its stock might have bottomed out