Valuation – S&P 500 Forward P/E and U.S. 10-Year U.S. TIPS Yield
Valuation – S&P 500 Forward P/E and U.S. 10-Year U.S. TIPS Yield The S&P 500 forward P/E multiple tends to be negatively impacted by higher real interest rates. Image: The Daily Shot
Valuation – S&P 500 Forward P/E and U.S. 10-Year U.S. TIPS Yield The S&P 500 forward P/E multiple tends to be negatively impacted by higher real interest rates. Image: The Daily Shot
10-Year S&P 500 Total Excess Return Over U.S. Treasury Notes vs. CAPE When CAPE valuations exceed 30, long-term buy-and-hold investors can generally benefit more from purchasing 10-year U.S. Treasury bonds than U.S. stocks. Image: Real Investment Advice
Nasdaq 100 vs. 10-Year U.S. TIPS Yield (Inverted) The Nasdaq 100 has shown strong performance despite the rise in real yields, which may indicate the possibility of the market overheating. Image: The Daily Shot
Valuation – S&P 500 P/E, S&P Equity Risk Premium and U.S. 10-Year Treasury Yields Significant multiple expansion in the absence of a corresponding increase in earnings growth can generally be a warning sign that U.S. stocks are getting too expensive. Image: Morgan Stanley Research
10-Year Annualized Monthly Returns for the S&P 500 U.S. large-cap stocks have shown robust returns over a 10-year period. Image: BofA Global Investment Strategy
Copper to Gold Ratio and U.S. 10-Year Treasury Yield (Leading Indicator) The 10-year U.S. Treasury yield has not supported the copper/gold ratio. Image: Morgan Stanley Research
S&P 500 Earnings Yield Gap vs. Real 10-Year U.S. Real Treasury Yield U.S. equities look expensive relative to rates. Image: Goldman Sachs Global Investment Research
Copper/Gold Ratio vs. U.S. 10-Year Yield The copper to gold ratio tends to lead the 10-year U.S. Treasury yield. Image: Strategas Research Partners
U.S. Dollar DXY Index Deviation from PPP Fair Value and Subsequent 10-Year Annualized Return The U.S. dollar weakness is likely to persist. Image: BCA Research
Yield Curve – U.S. 10-Year – 3-Month Treasury Spread So far, the inversion of the U.S. 10Y-3M yield curve continues to deepen. Image: The Daily Shot
Where Will 10-Year U.S. Treasury Yield End the Year? Will the 10-Year U.S. Treasury yield end the year below 3.5%? Image: J.P. Morgan