Gap Between S&P 500 Earnings Yield and U.S. Treasury Yield

This chart suggests that the S&P 500 looks attractive relative to bonds, as the spread between the S&P 500 earnings yield and the U.S. 10-year Treasury yield is 368bps.

Image: Goldman Sachs Global Investment Research

Gap Between S&P 500 Earnings Yield and U.S. Treasury Yield