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
S&P 500 Equity Risk Premium and Yield Gap U.S. equities remain attractively valued relative to bonds. Image: Goldman Sachs Global Investment Research
S&P 500 Equity Risk Premium and Real 10-Year Rates Will the S&P 500 equity risk premium rise further? Image: Morgan Stanley Research
S&P 500 Equity Risk Premium (Using Breakevens) The S&P 500 equity risk premium remains much lower than it was in March 2020. Is a drawdown on the horizon? Image: Morgan Stanley Research
Global Equity Risk Premium The global equity risk premium does not show a high excess equity return over global government bonds. Image: BofA Global Investment Strategy
S&P 500 Equity Risk Premium and Long-Term Average The S&P 500 equity risk premium is slightly higher than the long-term average of 280 bps, but well below the 436 bps average since the Great Financial Crisis. Image: Morgan Stanley Wealth Management
Russell 1000 Equity Risk Premium – Value vs. Growth Value stocks have outperformed growth stocks year-to-date, and remain more attractive than growth stocks. Image: Morgan Stanley Wealth Management
Equity Risk Premium – S&P 500 Cyclically-Adjusted Earnings Yield and 10-Year Treasury Yield The equity risk premium suggests that U.S. equities remain attractive relative to bonds. Image: Alpine Macro
Equity Risk Premium – MSCI Emerging Markets Index The EM equity risk premium is high, suggesting plenty of room for further gains. Image: Morgan Stanley Wealth Management
S&P 500 Equity Risk Premium (ERP) Goldman Sachs forecasts the ERP will fall to 4.6% this year and 4.3% in 2022. Image: Goldman Sachs Global Investment Research