Wall Street is as confused by the markets as it was last year

Ask a Wall Street strategist where the stocks will go and the answer will almost always be higher. It’s no longer the case now.

Twelve out of 21 forecasters tracked by Bloomberg expect the S&P 500 index to fall over the holidays. The gap between the highest target and the lowest target is 24%, the third largest in almost a decade. Equally acute is uncertainty among some Treasury analysts, with Bank of America rating 100 points to their 10-year return forecast for the end of 2021.