Expand "All The Good News Are Priced In": BofA Lists 5 Reasons Why The S&P Will Drop To 3,800 by Tyler Durden Wednesday, Apr 14, 2021 - 02:50 PM Bank of America chief quant, Savita Subramanian, starts off her latest strategy note titled appropriately enough " Five Reasons To Curb Your Enthusiasm" with a question: why despite the recent upgrade of US GDP from BofA economists and why despite positive guidance from companies - which led BofA to also raise its 2021 EPS estimate - did the bank not change its year-end S&P price target of 3800, nearly 400 points below where the index is trading today?