110 days ago • Posted by Charles-Henry Monchau

Chart of the day: Is this the most important valuation ratio for the market?

The Fed Model (S&P 500 earnings yield - U.S 10 year yield) is back to where it was two years ago, i.e U.S stocks are the most expensive vs. bonds since 2018. Does it mean that T.I.N.A (there is no alternative) is dead?  Will the Fed do something about it? Source: www.zerohedge.com 

S&P 500 earnings yield - U.S 10 year bond yield