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  • macosxbuild@gmail.com macosxbuild Oct 8, 2013 5:47 AM Flag

    Plunge in US shares coming in early 2014: Societe Generale

    Plunge in US shares coming in early 2014: Societe Generale

    Published: Tuesday, 8 Oct 2013 | 12:21 AM ET

    U.S. shares are headed for a big drop in the first quarter of 2014, followed by a year-long period of stagnation, Societe Generale predicts.

    "After gaining 170 percent since March 2009, we believe that U.S. equities are a tired and crowded asset," the investment bank said in a note.

    "Corporate profitability is close to peak levels, while at the same time the number of companies disappointing on the earnings front is increasing. Also, a stronger U.S. dollar and higher (10-year Treasury) bond yield would not help a market that is no longer cheap," it said.

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