Bank of America says the S&P 500 is expensive on all 20 metrics it tracks

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Bank of America sees a path for gold to rise to $4,000 per ounce in the next 12 months, noting that the deficit, interest rates and the dollar will be key factors. Market concerns about fiscal sustainability will probably not disappear, regardless of the outcome of the Senate negotiations, the bank said in a note on Friday. "Rates volatility and a weaker dollar should then keep gold backed, especially if the US Treasury or the Federal Reserve ar…

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Factuality

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The S&P 500 index looks expensive relative to its historical performance based on all 20 valuation metrics monitored by Bank of America analysts.