Bank of America shares an eye-popping chart showing a potential stock-market bubble: 'It better be different this time'

AI Optimism and Market Valuations: The S&P 500's price-to-book ratio has reached a record high of 5.3, surpassing levels seen during the dot-com bubble, driven by expectations for AI-driven earnings, although some analysts caution that such optimism may not indicate a bubble.

Diverging Market Perspectives: While some strategists remain bullish on the market's potential due to strong demand and productivity growth, others warn of possible corrections, suggesting that bonds and non-US stocks could benefit if the market begins to decline.