CNBC Pro

Bank of America’s reliable model indicates negative long-term returns for the first time since 1999

Traders work on the floor at the New York Stock Exchange.
Brendan McDermid | Reuters

Bank of America's decades-old valuation model that predicts long-term returns has turned negative for the first time in more than 20 years as valuations have continued to climb.

More In Pro Insight

VIDEO02:37
CNBC ProMorgan Stanley strategist: Why Europe is still an attractive market
CNBC ProHere's what Wall Street's major banks are saying about omicron's potential market impact
CNBC ProGoldman Sachs thinks these 6 global stocks could rally by 60% or more