Bank of America’s Subramanian Says S&P 500 Earnings Risk a 10% Drop in 2023

“We are likely to see some downward revisions [to earnings] and our forecast for profits growth for 2023 is $200 for the

S&P 500

That would mean about a 10% decline in earnings peak to trough.”

That’s Savita Subramanian, head of equity and quantitative strategy at

Bank of America

(ticker: BAC), in a Thursday interview with the Bloomberg podcast “What Goes Up.”