S&P 500 Equity Risk Premium – Consensus Bottoms Up Earnings Yield – 10-Year Treasury Yield Can U.S. Treasury bonds be considered more attractive than U.S. stocks at present? Image: Morgan Stanley Research
Equity Risk Premium – Change in ERP vs. 24-Month Lows Will the equity risk premium rise in 2023 as a U.S. recession is likely? Image: BofA US Equity & Quant Strategy
S&P 500 Equity Risk Premium Should investors expect a higher equity risk premium, as growth is slowing? Image: Morgan Stanley Wealth Management
Equity Risk Premium (ERP) – S&P 500 Earnings Yield Minus 10-Year Treasury Yield The S&P 500 looks attractive relative to bonds. Image: Truist
S&P 500 Equity Risk Premium and VIX The equity risk premium is sensitive to changes in the VIX. Image: Morgan Stanley Research
S&P 500 Equity Risk Premium vs. U.S. Agg OAS Spread to Treasuries The S&P 500 equity risk premium remains too low relative to IG credit spreads. Image: Morgan Stanley Research
Markets – Equity Risk Premium and Real 10-Year U.S. Treasury Yield The similarities between today and the tech bubble make BofA bearish on 2022. Image: BofA US Equity & Quant Strategy
S&P 500 Equity Risk Premium – Equities vs. Bonds The S&P 500 equity risk premium is expected to decline through 2022. Image: Goldman Sachs Global Investment Research
Sensitivity of S&P 500 to U.S. 10-Year Treasury Yield and Equity Risk Premium (ERP) The 4700 year-end target for the S&P 500 index assumes ERP of 4.8% and U.S. Treasury yield at 1.6%. Image: Goldman Sachs Global Investment Research
Equity Risk Premium – 12-Month Forward Earnings Yield Minus Real 10-Year Government Bond Yield The Equity Risk Premium has increased over the last few months. Image: BCA Research