Stock Valuations Hit a Record in ‘Everything Is Expensive’ Rally
- Highest percentage of PE ratios now in upper quarter: Longview
- Equal-weights, money supply, credit metrics are all in focus
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Three months to the day after the sharpest selloff in history, Wall Street is freaking out about valuations once more.
Bank of America Corp. clients are sounding the alarm on stock prices like never before, even as they sink cash into the market in droves. Bears are finding new reasons to bristle at soaring price-to-earnings ratios, while vanishing credit premiums belie default risk in the grip of the economic downturn.