![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikcByUNNjAatunZ8bsfIG9d2FvnBiIEg6sRhwv2yL1mSvg1OrcoClrlD80VWEoVdx9NjVFU-Qj4ZU1clecYzdhqWiytDGh4MJ4ukzBk0LOgfJM8mI3RdYkfnygOpXowopYQ_qQ8pXiCijC/s400/book.bmp)
Historical relationship: US 10 yr Note Yield - SPX EP Ratio = 1.75%
Current relationship: 3.77% - 4.23% = -0.46%
The model implies that equities are historically undervalued relative to bonds.
DISCLAIMER: If I really knew how to make money, I wouldn't tell you.
The model implies that equities are historically undervalued relative to bonds.
DISCLAIMER: If I really knew how to make money, I wouldn't tell you.
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