No. of Recommendations: 4
Bank of America's global research team noted on Friday that U.S. banks are at an 80-year low versus the S&P 500 (SP500), while tech is at an all-time high versus the benchmark index.
BofA graphed relative price of bank stocks versus the overall S&P 500 going back to the 1940s. The data indicated that this measure, which saw a steep dropoff in the 1980s and a further dip around the time of the Financial Crisis, has recently reached an all-time low.
Meanwhile, BofA produced a similar graph tracking relative price between tech stocks and the S&P 500. That showed a measure ticking up to a new high, above the levels seen during the dot-com bubble of the 1990s and early 2000s.
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