S&P 500 looks expensive, but policy winners may be mispriced: BofA

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3D Illustration , Oil barrels and gold bars with golden coins .

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The S&P 500 (SP500) stock index may look pricey at the surface, but beneath the index-level froth, some policy-linked investment themes are still trading at discounts, said Savita Subramanian, equity and quant strategist at Bank of America.

In a research

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