LIVE MARKETS Bulls beware, S&P 500 still expensive -BofA – Reuters.com

LIVE MARKETS Bulls beware, S&P 500 still expensive -BofA – Reuters.com

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BULLS BEWARE, S&P 500 STILL EXPENSIVE -BOFA (1300 EST/1800 GMT)

The S&P 500's 12% decline from its January peak has sobered up the bulls on Wall Street, BofA analysts say, but then they let the other shoe drop and it's a whopper.