S&P 500 Looks Like ‘Income Opportunity’ to BofA Strategist
“The S&P 500 represents one of the best income opportunities for investors,” Savita Subramanian, head U.S. equity strategist at Bank of America Corp.’s Merrill Lynch unit, wrote in a report Wednesday. She cited the ratio between the stock index’s dividend yield and the 10-year Treasury note’s yield, which ended July at its highest monthly reading since 1958. Daily figures compiled by Bloomberg show the ratio reached 1.60 on July 5. The reading surpassed peaks of 1.50 in June 2012 and 1.55 in December 2008.