Wall Street’s most bullish strategists are sounding the alarm on equity valuations as the second quarter draws to a close.
Despite a dazzling run of gains that has pushed major indices to new highs, a growing chorus of analysts is warning that a significant market pullback may be imminent.
The shift in tone marks a notable departure from the prevailing optimism that has characterized the year’s trading so far.
The caution comes as global equity markets finish the quarter on a strong note, driven by a decisive rotation away from traditional safe-haven assets.
Investors have increasingly favored risk-on positions, fueling gains across developed and emerging markets.
However, the rapid pace of this rally has raised concerns about sustainability, with some strategists pointing to stretched valuations and crowded trades as potential triggers for a reversal.