Investors are ignoring the parallels between stocks today and ‘heady’ years of 1929, 1999 and 2007. Do this next, says strategist.

Post Labor Day sees investors returning to the S&P 500 SPX adjacent all-time highs and immoderate acheronian economical shadows lurking. Chiefly successful the interest country is Friday’s anemic jobs data, which comes against backdrop of higher prices, starring to whispers of dreaded stagflation.

Supply concatenation problems being created by the coronavirus and its variants does rise that stagflation possibility, Matt Maley, main marketplace strategist astatine Miller Tabak + Co, told clients successful a play note. “If/when it does, some the banal marketplace and the enslaved market...