In a note titled “Wall Street Proclaims the Death of Equities,” BofA Merrill Lynch strategist...

|By:, SA News Editor

In a note titled “Wall Street Proclaims the Death of Equities,” BofA Merrill Lynch strategist Savita Subramanian says the average equity allocation is at 49.3%. This is the first it's been below 50 in nearly 15 years, which suggests that sell-side strategists are now more bearish on equities than they were at any point during the collapse of the tech bubble or the recent financial crisis. For many, including Subramanian, this bearish sentiment is a contrarian sign that a turnaround is near.