The S&P 500 is the most expensive in history, measured in working hours

The stock market flies too close to the sun and it is possible that "its wings will burn soon". This is what experts from Bank of America Merrill Lynch warn. In fact, the bank believes that this can happen by the end of the year.
The US bank, however, warns of this from the beginning of the year, and as we can see, the indices continue to reach new and new record values.
The bank, however, is innovative about why the S&P 500 is expensive. According to their calculations, the number of working hours needed to buy an index has reached a record high.
And this may be another alarming signal to investors.
The rise in US indices was supported by central bank policy, which is quite likely to turn from a supportive to a negative factor, given the normalization of policies.
According to Michael Harnett, a strategist at BAML, a further rise in risk assets will cause serious problems.