In the unlikely scenario that no tax reforms are adopted, the S&P 500's annual earnings per share will grow by 12% to $203 next year.
Equities in developed markets have rallied after last year's slump, fueled by expectations of a rapid economic recovery.
Typical signs of systemic risk aren’t present, the firm's strategists said.
Tests and ICU hospitalizations have jumped past a "maximum alert" level in Paris.
The grim outlook is in line with the most recent projections from the European Central Bank.
As a trade war with China rages on, the U.S. seeks to strengthen its European partnerships.
The days in paradise may be numbered for those seeking refuge from heavy tax burdens in remote islands.