The St. Louis-based investment bank has a disappointing forecast for equity returns in the next 10 years.
Stock investors may be looking at weak returns over the next decade, according to Stifel market strategist Barry Bannister. That's because the secular bear market that started in the 2020s is likely to persist. "Near-term trades aside, in recent years we have forecast that the S & P 500 is likely to be broadly range-bound in the decade 2021 to 2031E," Bannister wrote in a January 9 note.
Stifel's forecast is that the S & P 500 will reach 4,300 in the first half of 2023, but the investment bank sees the index falling if crude oil rises sharply. One other data point supports modest to no returns in the S & P 500 over the next decade. The S & P 500 relative to commodities fell below its 122-year trend, which usually signals flat returns in the next ten years.
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