Falling bond yields and stagnant stock prices have caused the narrowest U.S. pension-funding gap since 2007 to widen this year, according to David Bianco, chief U.S. equity strategist at Deutsche Bank AG.
The Standard & Poor’s 500 Index will rally as much as 23 percent to 1,350 over the next 12 months, propelled by corporate profit growth, according to David Bianco , head of U.S. equity strategy at Bank of America Merrill Lynch.
U.S. stocks climbed, with the Standard & Poor’s 500 Index rising to a record, as Federal Reserve Chair Janet Yellen said the central bank may alter its strategy on stimulus cuts should the economy weaken. The yen gained on worsening Ukraine tensions while sugar surged.
David Bianco, Deutsche Bank AG’s chief U.S. equity strategist, withdrew a forecast that the Standard & Poor’s 500 Index will post a near-term gain of 5 percent or more, citing uncertainty before Greece’s elections this weekend.